San Miguel, Meralco, Aboitiz Power to team up on P185-B LNG facility
Three of the country’s wealthiest and most influential players in the power industry will team up to develop an integrated liquefied natural gas (LNG) power plant in Batangas [link]. The deal will see MGen, the Meralco [MER 379.80, down 2.6%] subsidiary that recently acquired SP New Energy [SPNEC 1.10 unch] from Leandro Leviste, and Aboitiz Power [AP 37.30, up 0.8%] invest in San Miguel Global Power Holdings (SMBP), a subsidiary of San Miguel [SMC 104.00, up 1.9%]. Through the capital pooled at SMBP, the trio will execute a roadmap of development and acquisitions with the end goal of building a facility with over 2,500 MW of capacity with its own LNG import and regasification terminal. Once operational, the facility is expected to provide over 2,500 MW of capacity.
