April 27, 2016 10:01 pm by Voltaire Palaña
SN Aboitiz Power Inc.
(SNAP) is keenly interested in growing its core business by acquiring assets
being privatized by the government.
SNAP Executive Vice
President and COO Joseph Yu told reporters in an interview that the company is
eyeing the 728-megawatt (MW) Caliraya-Botocan-Kalayaan (CBK) hydroelectric
power plant and the 140-MW Casecnan multi-purpose project.
“Actually, the model
for SNAP is to see what’s out there in terms of privatization and to be able to
participate in any of the due diligence processes to . . . find out whether the
remaining assets are attractive,” SNAP Vice President for Corporate Services
Michael Hosillos said.
“Definitely, it’s
part of the business model to still participate . . . in terms of which ones
are attractive. That’s probably something that we really need to answer once
those assets are actually put up for . . . due diligence,” he added.
SNAP is also
interested in joining the bidding for the Agus-Pulangi hydropower complex in
Mindanao.
The mammoth complex,
operated by state-owned National Power Corp. (Napocor), is set to be privatized
by the Power Sector Assets and Liabilities Management Corp (PSALM).
With a combined
installed capacity of 982 megawatts, the Agus and Pulangi power plant complexes
account for more than 50 percent of Mindanao’s requirement, according to
Napocor.
The privatization of
the Agus-Pulangi plants and other Napocor assets is mandated by the Electric
Power Industry Reform Act of 2001 to settle Napocor debts.
SN Aboitiz is a joint
venture between Aboitiz Power Corp. and SN Power of Norway.
No comments:
Post a Comment