Japan’s Toyota Tsusho Corp. is expected to make a decision in early 2017 whether to raise its stake in Sarangani Energy Corp. (SEC) of the Alcantara Group.
The Japanese firm is scheduled to make its decision on its equity call in January 2017, Alsons Power Group corporate planning officer Antonio Miguel Alcantara said.
“(They will make a) decision because you know how in Phase 1, Toyota’s investment is at 25 percent so for Phase 2, they’ll confirm that number or go higher if they want,” he said.
Toyota Tsusho can raise its equity to 35 to 40 percent, based on initial talks between the two parties.
SEC is developing a 2×105-megawatt (MW) coal plant in Maasim, Sarangani. The first 105-MW unit began operating in April this year, with Toyota Tsusho acquiring 25 percent through a buy-in in 2012.
Apart from the SEC project, Alsons Power is also offering its other projects to Toyota Tsusho for further equity investments.
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