First Gen Corp. and Meralco PowerGen Corp. are in talks for a joint venture that will build a natural gas-fired power plant with a capacity of up to 500 megawatts in Batangas.
First Gen president Giles Puno confirmed the talks with Meralco PowerGen but said a formal agreement had yet to be reached. “We’ve had talks on and off. Nothing definite yet,” he said.
Meralco PowerGen general manager Aaron Domingo conceded the company was in talks with First Gen and other companies in line with its goal to build a portfolio of power generating plants with a combined capacity of 2,500 MW.
“As part of our mandate to develop competitively and reliable power, we are in constant dialogue with everyone in the market,” Domingo said.
Meralco PowerGen is controlled by Manila Electric Co., the country’s largest power distributor with over five million customers in its franchise area.
First Gen, meanwhile, is the power arm of the Lopez Group. First Gen announced earlier it would proceed with its long-delayed San Gabriel project, after completing the acquisition of BG Group’s stake in natural gas power projects. source
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