Thai power firm Electricity Generating Public Co. Ltd. (EGCO) has deepened its hold on Masinloc Power Partners Co. Ltd. (MPPCL), the operator of the 630-megawatt (MW) coal-fired power plant in Zambales.

EGCO said in a statement it expanded its investment in the Philippines with the successful acquisition of an additional 8.05 percent stake in the Masinloc power plant.

The transaction, a result of a definitive agreement entered into by EGCO’s wholly-owned unit Gen Plus B.V. with the International Finance Corp., effectively raises the group’s indirect ownership in the project from 40.95 percent to 49 percent.

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