By Donnabelle L. Gatdula (The Philippine Star) Updated October 04, 2010 12:00 AM Comments (0)  |
MANILA, Philippines - The Department of Energy (DOE) has offered at least 32 energy projects to US investors.
Energy Secretary Jose Rene Almendras said the US business community had expressed strong interest to look at potential energy projects in the country.
Almendras said that when they offered the 32 energy projects during their recent US visit with President Aquino, they got an overwhelming response from US businessmen.
“I think the real success of the US trip beyond the numbers is the attention we seem to have gotten back to the Philippines, sense of focus that people are taking notice of the Philippines again,” he said.
But Almendras said they do not want to give details of the possible entry of US investors as it is premature to announce yet.
He said the biggest investment, in fact, that they have gotten from the recent US visit is energy-related.
“I think it’s a very good trip. For one, we’ve closed that AES Corp. deal. AES will build another 600-MW to expand Masinloc (coal-fired power plant), that’s $1 billion. Assuming we can get all the permits, financing in place, we hope to start construction by next year. I want to start construction by next year because I want that plant ready by 2014,” he said.
The 32 projects that they have presented to the US business community include traditional and renewable energy projects.
Energy Secretary Jose Rene Almendras said the US business community had expressed strong interest to look at potential energy projects in the country.
Almendras said that when they offered the 32 energy projects during their recent US visit with President Aquino, they got an overwhelming response from US businessmen.
“I think the real success of the US trip beyond the numbers is the attention we seem to have gotten back to the Philippines, sense of focus that people are taking notice of the Philippines again,” he said.
But Almendras said they do not want to give details of the possible entry of US investors as it is premature to announce yet.
He said the biggest investment, in fact, that they have gotten from the recent US visit is energy-related.
“I think it’s a very good trip. For one, we’ve closed that AES Corp. deal. AES will build another 600-MW to expand Masinloc (coal-fired power plant), that’s $1 billion. Assuming we can get all the permits, financing in place, we hope to start construction by next year. I want to start construction by next year because I want that plant ready by 2014,” he said.
The 32 projects that they have presented to the US business community include traditional and renewable energy projects.
“In addition to the AES deal, there have been other companies especially on the RE which are very interested. It’s just that President Aquino does not want to announce anything until is signed and confirmed,” he said.
He said some of the 32 projects offered are new and some are with service contracts already but would want to have partners.
The AES’ $1-billion expansion project of the 600-MW Masinloc forms part of the $2.4 billion worth of investments that Mr. Aquino and his team were able to raise during their recent US trip.
He said some of the 32 projects offered are new and some are with service contracts already but would want to have partners.
The AES’ $1-billion expansion project of the 600-MW Masinloc forms part of the $2.4 billion worth of investments that Mr. Aquino and his team were able to raise during their recent US trip.
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