Manila Standard Today
A unit of Aboitiz Power Corp. has acquired four more power barges from private operators, the listed company said in a filing with the Philippine Stock Exchange.
Therma Mobile Inc., a wholly-owned subsidiary of Aboitiz Power, said it bought four barge-mounted floating power plants from Duracom Mobile Power Corp. and East Asia Diesel Power Corp.
Aboitiz Power said it had not decided where to transfer the barges from their current station in Navotas City.
Aboitiz Power currently operates two power barges in Mindanao, PB 117 and PB 118, which have a generating capacity of 100 megawatts each. PB 117 is moored in Agusan del Norte while PB 118 operates in the province of Compostela Valley.
Aboitiz Power acquired the two power barges through Therma Marine Inc., which won a negotiated bid conducted by earlier by Power Sector Assets and Liabilities Management Corp.
Aboitiz Power has said it is earmarking up to P100 billion in the next three years for new power projects. It plans to borrow up to P50 billion this year to finance the construction of two major coal projects in Subic and Davao before the end of 2011. Jeremiah F. de Guzma
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