Manila Electric Co (Meralco) Chairman Manuel Pangilinan confirmed his company's interest in the power assets of San Miguel Corp (SMC). Pangilinan said they are eyeing the coal-powered Sual power plant and the hydroelectric plant in San Roque, both owned by SMC. Sual power plant has a capacity of 1,200 megawatts while San Roque has a 345-megawatt capacity. Both plants are located in Luzon. In an interview, Pangilinan said, "If San Miguel is prepared to sell, we're prepared to take a look at it."
Meralco, which currently services one-fourth of the population in the Philippines, intends to go back to energy generation after a hiatus of four decades. The company said its plans include supplying up to 30% of the demand in Luzon. SMC President Ramon Ang had earlier revealed that the company intends to sell USD 4 billion worth of its power assets to use for its infrastructure and industries expansion projects. He has not yet issued any comment regarding Meralco's interest.
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