AboitizPower keen on Masinloc power plant bid

AboitizPower keen on Masinloc power plant bid

The Aboitiz Power Corp is keen on positioning their bid for the 630-megawatt (MW) Masinloc power plant in Zambales.

The power plant, which is seen to close its bidding by the end of the year, is owned by American energy giant AES Corp.

The Aboitiz group has already shown interest in the power plant, its president and CEO Antonio Moraza said in a report.

“We are studying. (It’s) very advanced and everyone else, I’m sure are interested. Any power projects in the Philippines, anything for sale, we will look at,” he said.

AboitizPower is one of the around 15 interested companies who want to acquire the power plant.

“The interest is very wide — foreign, local. I understand there is more than 15,” Moraza added.

Last July 2017, reports said that AES will be selling its controlling stake in the Masinloc power plant. It said that the company has realized its gains from its 2008 acquisition and want to realize “good value” from the sale.

The 300 MW expansion being built for the Masinloc plant is also for sale.

The Masinloc power plant is a base-load pulverized coal-fired power plant with two 300 MW units. The plant began operating in 1998 and is the first privatized thermal plant in the country.