MANILA, Philippines—Tycoon Andrew Gotianun has enlisted former Energy Regulatory Commission and National Power Corp. chief Jesus Alcordo to flesh out his Filinvest group's diversification into the power generation business.
In a disclosure to the Philippine Stock Exchange on Thursday, Filinvest Development Corp. announced that Alcordo, who had also helped taipan George Ty's foray into the power business, would join the group effective January 1.
Alcordo will become president of the fledgling Filinvest unit FDC Utilities Inc. "to implement potential infrastructure and utilities projects," the disclosure said.
The new infrastructure chief of the Filinvest group is a seasoned energy-sector professional who had previously served as commissioner of the ERC and president and chief executive officer of National Power Corp. during the early period of the Gloria Macapagal-Arroyo presidency. He also previously served as chair, president and CEO of independent power producer East Asia Power Resources Corp.
He also briefly headed the Aboitiz group's shipping unit, then called WG&A Philippines Inc., in the late 1990s.
Most recently, Alcordo was president of the Metrobank group's Global Business Power Corp. and Cebu Energy Development Corporation, where he led the development, construction and commissioning of two greenfield clean coal power projects, a 246-megawatt plant in Cebu and 164MW plant in Panay.
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