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).
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