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.

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.