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MVP Group interested in Philippine coal plant being sold by AC Energy

  • 5 years ago (2018-11-05)
  • David Flin
Asia 864 Coal 283

The group of Manuel V. Pangilinan (MVP) has said that it is interested in the possible purchase of the four 135 MW coal-fired units at the Kauswagan plants in Mindanao in the Philippines being sold by AC Energy.

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After AC Energy agreed to sell a stake in its thermal business AA Thermal to Aboitiz Power in September, it announced that it was selling the rest of its thermal portfolio, which includes a stake in the GN Power Kauswagan plant.

Manuel Pangilinan said that no formal decision had been made yet. “There’s no commitment at this stage. We’re looking. It looks attractive because the plants are almost done.” He said that the facility would boost power capacity on Mindanao, which he said has a power shortfall, although others have stated that there is an oversupply of power there. Pangilinan said: “It doesn’t seem that way from the ground. My impression is that it continues to suffer from brownouts. We will take a look at it.”