By: InterAksyon.com August 27, 2013 8:58 AM
MANILA – The power-generating arm of the country’s largest electricity distributor will build a new power plant in Quezon province in a partnership with a Thai company.
In a disclosure to the Philippine Stock Exchange, Manila Electric Co (Meralco) said its board authorized subisidiary Meralco PowerGen Corp to execute a joint development agreement with Electricity Generating Public Co Ltd (EGCO) for a new 460-megawatt coal-fired plant in Mauban town.
EGCO owns a coal plant in the same municipality that the Thai firm acquired from US-based Intergen last year. The same power plant has a 25-year agreement to supply Meralco with electricity.
The agreement with Meralco comes a month after EGCO sold its stake in a power plant in Mindanao to Alsons Consolidated Resource Inc.