With One Power, Mikee Romero wears new hat as energy player in both RE, coal

By Lorenz S. Marasigan - October 21, 2019

https://businessmirror.com.ph/2019/10/21/with-one-power-mikee-romero-wears-new-hat-as-energy-player-in-both-re-coal/

LAWMAKER and businessman Michael “Mikee” L. Romero plans to set up an energy holdings company to host different power generation firms that have a sum capacity of at least 300 megawatts (MW) in 2020.

On the sidelines of a Philippines AirAsia event recently, Romero said his group is buying into three power generation companies in Luzon and Mindanao, and is eyeing to bid for the Malaya Power Plant.

“We want to be one of the players in the energy sector,” he said. “In terms of generation, I think we can consolidate next year around 300 MW to 350 MW.”

Romero noted that the companies will be a mix of renewables and coal.

“The one in Luzon is hydro. We have signed a memorandum of understanding for it and we’re about to take over,” he added. “Our acquisition of different power companies should be completed by the end of the year.”

Romero did not elaborate.

The energy holdings company will be called One Power, a nod to Romero’s party-list OnePacman. Romero is currently in the energy distribution business in Zamboanga, being the sole distributor in the peninsula.