Published
By Myrna M. Velasco
At least 25 percent
shareholdings had been reserved to Japanese firm Toyota Tsusho Corporation on
the P3.9-billion Siguil hydropower project of Alsons Power Group that will
yield capacity of roughly 15 megawatts.
But according to Alsons
Consolidated Resources, Inc. (ACR) Chairman Tomas I. Alcantara, the Japanese
company has yet to firm up its investment decision on their hydropower project,
pending the completion of technical, financial and commercial studies of the
venture.
He added that with
Toyota Tsusho’s participation, this will give the project company access to
financing via the Joint Crediting Mechanism (JCM) facility of the Japanese
government – which delves primarily into trade of carbon credits.
An initial capital
injection of 600 million to 700 million yen has so far been anticipated from
the Japanese facility for the Siguil hydropower project.
Alcantara said it
becomes a normal thrust for them to offer equity to Toyota Tsusho in all of
their forthcoming ventures – the Japanese firm being its highly valuable
partner in its Sarangani coal-fired power project.
ACR Executive Vice
President and COO Tirso G. Santillan noted that the project implementation
frame “is now in very advanced stages… but it is just taking a longer process
because we will need to do CSP (competitive selection process) on our PSAs
(power supply agreements).”
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