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August 6, 2012

Meralco PowerGen eyes Malaya thermal power plant acquisition

Meralco PowerGen Corp, a unit of power utility Manila Electric Company, is planning to acquire the 650MW Malaya thermal power plant in Rizal, the Philippines.

By admin-demo

Meralco PowerGen Corp, a unit of power utility Manila Electric Company, is planning to acquire the 650MW Malaya thermal power plant in Rizal, the Philippines.

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Meralco PowerGen managing director Aaron Domingo told Manila Standard Today that the plant would fit into his company’s operations, although the government has not decided to auction the facility.

Philippines Energy Secretary, Jose Rene Almendras, had previously suspended the privatisation of the plant so that the government would get the best value for it.

He said the plant could be transformed into a "real power investment" when the natural gas pipeline is finished and the station is converted to utilise the clean fuel.

Power Sector Assets and Liabilities Management Corp operates the Malaya plant, which consists of a 300MW unit with a once-through type boiler and a 350MW unit fitted with a conventional boiler.

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IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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