AboitizPower targeting Sithe Global stake in Bataan plant

aboitiz-power-targeting-sithe-global-stake-in-bataan-plant

AboitizPower Corporation has expressed interest in acquiring Sithe Global’s stake in GN Power’s 600-megawatt (MW) power plant in Mariveles, Bataan.

“As a player in the power industry, we feel it’s incumbent on us to explore all opportunities that present themselves which will lead to our continued growth,” AboitizPower president Antonio Moraza said.

The Mariveles power plant is a 2×300-MW unit power plant using proven pulverized coal combustion technology. It was designed to meet emission standards of the Philippine and World Bank while selling power to off-takers through long-term power purchase agreements and to the Wholesale Electricity Spot Market (WESM).

The plant’s coal supply comes from an Indonesian supplier through a long-term offtake agreement.

The Mariveles plant had the lowest marginal operating cost versus any coal project listed in the Luzon grid, data from Sithe Global’s website showed.

AC Energy Holdings and GN Power are fellow equity owners of the Mariveles plant.

Aboitiz Power is one of the country’s largest power companies that aims to produce 4,000 MW worth of installed capacity within four years.

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