Meralco buys Aboitiz unit for coal plant

ENJD
Business World

MANILA ELECTRIC Co. (Meralco) has moved to acquire a controlling stake in the Aboitiz Power Corp. unit that is building a 600-megawatt coal-fired plant in Zambales, disclosures filed with the local bourse showed.

RP Energy has the development rights over the coal-fired power plant planned to rise at the Subic Bay Freeport Zone. The planned acquisition falls in step with Meralco’s plans to start building a 1,500-megawatt (MW) power generation portfolio starting with a 600-MW base load plant and a 150-MW peaking plant by 2014.

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Meralco to put up 300-MW coal-fired power plant

Amy R. Remo
Inquirer.net

Manila Electric Co., the country’s biggest power distributor, said it planned to put up a 300-megawatt coal-fired power plant in an area north of Manila.
This is the second project being eyed for the $2.3-billion, 1,500-megawatt power generation portfolio that Meralco is planning to build. The first, which was announced earlier, is the 150-MW Liquefied Natural Gas (LNG)-fired plant in Laguna.
Meralco will likely start the construction of the coal-fired power generation plant this year. It is targeted for completion in 2014.
In a briefing following the company’s stockholders’ meeting on Tuesday, Meralco chief operating officer Oscar Reyes said Meralco might be spending about $2 million to produce a megawatt of power from this coal facility. This means the project may cost at least $600 million (roughly P27 billion).

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Meralco plans joint venture with San Miguel, Aboitiz group

By Amy R. Remo
Philippine Daily Inquirer

MANILA, Philippines—Manila Electric Co., the country’s biggest power distributor, is keen on forming possible partnerships with power giants San Miguel Corp. and Aboitiz Power Corp. to help build its planned power portfolio of more than 1,500 megawatts.

Manuel V. Pangilinan, president and chief executive officer of Meralco, said the two companies were among the local and foreign groups that the distribution utility planned to tap for its power projects over the next four years.

Apart from the two power giants, Team Energy, a venture between Marubeni and Tokyo Electric and Power Co., and the Consunji-led DMCI Holdings Inc. were among those that have earlier approached Meralco for possible partnerships.

Discussions with DMCI were still ongoing, Pangilinan said.

Meralco expects to spend as much as $2.3 billion (about P103 billion) to complete its 1,500-MW power generation portfolio between now and 2016.

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