Marubeni taking 20% stake in Calaca coal power plant

Japan’s Marubeni Corp. is entering as a strategic partner in the Semirara Mining and Power Corp.-Meralco PowerGen Corp. (MGen) team-up for the 2×350-megawatt coal-fired power plant in Calaca, Batangas estimated to cost as much as $1.4 billion, a Semirara official said.

In an interview with reporters, Semirara chairman and CEO Isidro Consunji said Marubeni is just waiting for head office clearance to formally take in a 20-percent equity in St. Raphael Power Generation Corp., the project company for the coal-fired plant.

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