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

San Miguel buys 630MW Masinloc power plant for $1.9bn

Deal is among largest-ever in Philippines' power sector

San Miguel's natural gas power plant in Luzon

MANILA -- Philippine conglomerate San Miguel, known for its eponymous beer, has acquired a power plant in the northern town of Masinloc with generating capacity of 630 megawatts for $1.9 billion -- one of the largest-ever deals in the Philippines' power sector. 

San Miguel unit SMC Global Power Holdings sealed a deal on Dec. 18 to buy a 51% stake of AES of the U.S., and a 49% stake of EGCO Group of Thailand. AES and EGCO owned Masin-AES, which runs two 315-MW coal-fired power facilities in Masinloc in the northwestern province of Zambales.

Sponsored Content

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

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