ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business

Philippines' Aboitiz Power buys into coal-fired plants for $1.2bn

MANILA -- Aboitiz Power is set to acquire substantial stakes in two coal-fired plant companies for $1.2 billion, advancing its bid to secure 4,000 megawatts of generation capacity by 2020.

The deal came after Therma Power, a unit of Aboitiz Power, on Monday announced it was chosen as the preferred bidder by investment funds affiliated with Blackstone Group for the sale of their interests in GNPower Mariveles Coal Plant (GMCP) and GNPower Dinginin (GNPD).

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more