KEPCO may consider buying into Masinloc power plant - source
03/04/2008 | 04:03 PM
MANILA, Philippines - In line with its objective to expand operations in the Philippines, the Korea Electric Power Corp. (KEPCO) on Tuesday said it may consider the possibility of entering a partnership with AES Corp. by buying into the 600-megawatt Masinloc power plant.
An official from KEPCO, Korea's largest power firm, said an equity participation Masinloc Power Partners Corp. (MPPC), a company run by US-based AES, is one of the possible investment opportunities that the company is eyeing.
"We may look at that," the official who asked not to be identified said, referring to AES' earlier pronouncement that it may divest about 25 to 30 percent of its equity in MPPC to a strategic partner.
AES' MPPC won the bidding for the Zambales-based power facility for $930 million.
AES is a leading global power developer and operator in the world. It is listed on the New York Stock Exchange. The company has 13 regulated utilities and 121 generation facilities, with total generation capacity of around 43,000 megawatts.
At present, KEPCO owns stake in Ilijan natural gas-fired power plant and in the 200-megawatt coal plant in Cebu, a joint project with Salcon Power Corp.
It could be recalled that KEPCO initially expressed interest to bid for Masinloc but was later on abandoned the plan. The Korean power firm was supposed to team up with Ranhill Berhad of Malaysia in its bid for Masinloc but the talks between the two potential partners bogged down.
AES said it is looking at an additional investments of another $1 billion to expand the capacity of the Zambales plant by another 600 megawatts. The Masinloc plant is located about 250 km northwest of Metro Manila, covering bout 137 hectares including 11 hectares on land reclaimed from the sea. - GMANews.TV
An official from KEPCO, Korea's largest power firm, said an equity participation Masinloc Power Partners Corp. (MPPC), a company run by US-based AES, is one of the possible investment opportunities that the company is eyeing.
"We may look at that," the official who asked not to be identified said, referring to AES' earlier pronouncement that it may divest about 25 to 30 percent of its equity in MPPC to a strategic partner.
AES' MPPC won the bidding for the Zambales-based power facility for $930 million.
AES is a leading global power developer and operator in the world. It is listed on the New York Stock Exchange. The company has 13 regulated utilities and 121 generation facilities, with total generation capacity of around 43,000 megawatts.
At present, KEPCO owns stake in Ilijan natural gas-fired power plant and in the 200-megawatt coal plant in Cebu, a joint project with Salcon Power Corp.
It could be recalled that KEPCO initially expressed interest to bid for Masinloc but was later on abandoned the plan. The Korean power firm was supposed to team up with Ranhill Berhad of Malaysia in its bid for Masinloc but the talks between the two potential partners bogged down.
AES said it is looking at an additional investments of another $1 billion to expand the capacity of the Zambales plant by another 600 megawatts. The Masinloc plant is located about 250 km northwest of Metro Manila, covering bout 137 hectares including 11 hectares on land reclaimed from the sea. - GMANews.TV
