Thai firm hikes stake in Masinloc power plant

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.

Read more here.

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