Marubeni to Acquire Stakes in the Philippines Puting Bato Thermal Power Station

Source: www.gulfoilandgas.com 12/20/2016, Location: Asia

Marubeni Corporation (“Marubeni”) announces that it has acquired equity ownership in the Puting Bato Thermal Power Station (“Puting Bato Power Station”) located in Calaca, Batangas, Philippines.

On December 20, 2016, Marubeni entered into an agreement to acquire 20% shares in South Luzon Thermal Energy Corporation (“SLTEC”) which owns and operates Puting Bato Power Station. Puting Bato Power Station has a capacity of 270MW and has been in commercial operation since April 2015.

Marubeni’s extensive experience and achievements in power projects in the Philippines has enabled it to participate in a new power project with PHINMA Energy Corporation (“PHINMA Energy”), a company of PHINMA Group, which is engaged in power generation and electricity supply businesses in the Philippines, and AC Energy Holdings, Inc., (“AC Energy”), a subsidiary of Ayala Group which is one of the largest conglomerates in the Philippines.

Taking this opportunity, Marubeni, together with PHINMA Energy and AC Energy, is exploring jointly developing new power projects in the future and intends to build strong and stable relationships with the PHINMA Group and the Ayala Group. In the Philippines, Marubeni has participated in several power generation assets, which are almost equivalent to 20% of the country’s total installed capacity.

Marubeni, utilizing its extensive experience and knowledge gained in projects around the world, will contribute to development in the Philippines through the provision of a stable power supply.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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