Power team-up looms between MVP, RSA camps for Ilijan

Another partnership looms between the camps of Manuel V. Pangilinan and Ramon S. Ang as talks for a possible deal in power generation have started.

In a disclosure to the Philippine Stock Exchange yesterday, San Miguel Corp. (SMC) said it is discussing with Manila Electric Co. (Meralco) a possible investment of up to 49 percent in South Premiere Power Corp. (SPPC).

SPPC, an affiliate of SMC, is the independent power producer administrator (IPPA) of the 1,200-megawatt Ilijan power plant in Pangasinan.

Ang said that by selling to Meralco, the plant is assured of an off-take agreement up to 2022.

He stressed, however, the deal depends on the resolution of the case filed against Power Sector Assets and Liabilities and Management Corp. (PSALM).

Read more here.

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