Bangkok--16 Jul--EGCO Group
Mr. Sahust Pratuknukul, President of Electricity Generating Public Company Limited or EGCO Group announced that “The Company successfully completed the offshore acquisition transaction of 40.95% indirect stake in Masinloc Power Partners Co. Ltd. (MPPCL) from Singapore based AES Phil Investment Pte. Ltd., on July 15, 2014. Upon this completion, the Shareholders’ Agreement was executed and commenced. The total transaction was US$ 453 million (equivalent to 14,750 million Baht). After the financial close, Masinloc power plant is now owned by AES at 51% net stake, EGCO Group at 40.95% and the International Finance Corporation (IFC) at 8.05%.”
The 630 MW Masinloc power plant, located in Zambales province on the island of Luzon. Masinloc sells its power under contract to various parties including the distribution utility - Manila Electric Company (Meralco) as well as several electric cooperatives and industrial customers.