SMC, K-Water announce joint venture for 246-MW Angat hydropower project

Philippines Flag

The Korean Water Resources Corporation (K-Water) and the Filipino conglomerate San Miguel Corporation (SMC) have announced a joint venture for the development and operation of the 246-MW Angat hydropower project, according to documents filed with the Philippine Stock Exchange.

SMC -- one of southeast Asia's largest food, beverage and packaging companies -- has expanded into energy and infrastructure markets in recent years. The company said its involvement with the Angat plant will be handled by a newly created unit.

The project will add hydropower generation capabilities to the existing Angat Dam, which is owned by the Philippine government and provides water for metropolitan Manila and neighboring provinces.

K-Water was declared highest bidder for the project in 2010 after offering US$440.88 million, though the country's Supreme Court has required the South Korean company find a Filipino partner before allowing work at Angat to begin.

For more news from the Philippines, visit here.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs