Manila Electric to refinance power plant investment

Meralco (subsidiary of Manila Electric Co) is seeking to borrow around $220m to refinance an investment in a Singapore power project.

The Philippines power distributor’s CFO, Betty Siy-Yap, said the company was considering various options, including an outright bank loan or a bond issue, to raise the amount needed to refinance the investment.
Singapore

"Definitely, we'll go for long-term money because this is a long-term project," said Ms Siy-Yap.

Meralco PowerGen Corp. recently took a 40 per cent stake in FPM Power Ltd., a joint venture with Hong Kong's First Pacific that acquired a 70 per cent interest in GMR Energy (Singapore) for $488m.

GMR Energy is constructing a liquefied natural gas power plant complex, with a total capacity of 800 MW, in Jurong Island, Singapore.

For more power business news



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

Whitepapers

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...