Business World Online
Posted on February 08, 2011 10:25:09 PM
SIX FOREIGN COMPANIES have expressed interest in building hydroelectric and coal-fired power plants in the country, but a number of issues have to be addressed first, a Cabinet official said yesterday.
Energy Secretary Jose Rene D. Almendras told reporters at the sidelines of a hearing of the House of Representatives Committee on Energy that six foreign companies without Philippine presence want to enter the power generation business in the country.
"We have two Japanese groups, one Korean group and three Chinese companies not yet in the country [that] are interested to enter. HydroChina [Corp.] will build one plant," said Mr. Almendras.
Mr. Almendras’ statement could not be immediately verified nor did he identify the other firms involved.
The companies, however, will not enter the country unless a number of issues are resolved, Mr. Almendras said.
He cited as examples the question of whether the National Power Corp. or Japanese investor TeaM Energy should pay the real property tax for the 700-megawatt coal-fired power plant in Pagbilao, Quezon and the inability of some electricity cooperatives to pay power generation companies.
"Investment climate is favorable. However, there are nuances. There is still fear about inconsistency of policies," Mr. Almendras said.
"I just came from Japan and we had very good road show... We were successful in showing them that there are opportunities," he added.
"However, the assurance that they are looking for is consistency of policy, consistency in implementing [policies]." -- ENJD
"We have two Japanese groups, one Korean group and three Chinese companies not yet in the country [that] are interested to enter. HydroChina [Corp.] will build one plant," said Mr. Almendras.
Mr. Almendras’ statement could not be immediately verified nor did he identify the other firms involved.
The companies, however, will not enter the country unless a number of issues are resolved, Mr. Almendras said.
He cited as examples the question of whether the National Power Corp. or Japanese investor TeaM Energy should pay the real property tax for the 700-megawatt coal-fired power plant in Pagbilao, Quezon and the inability of some electricity cooperatives to pay power generation companies.
"Investment climate is favorable. However, there are nuances. There is still fear about inconsistency of policies," Mr. Almendras said.
"I just came from Japan and we had very good road show... We were successful in showing them that there are opportunities," he added.
"However, the assurance that they are looking for is consistency of policy, consistency in implementing [policies]." -- ENJD
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