Aboitiz Power Corp (AP) said it wanted to buy state-owned power assets to increase its generating capacity. AP is one of the Philippines' top power producers. AP President and Chief Executive Officer Erramon Aboitiz said they would also continue to expand existing facilities and build new ones.
The CEO told reporters that Aboitiz was "interested in the privatization of some Power Sector Assets and Liabilities Management Corp. (PSALM) assets." He added that his firm had already submitted its letter of interested for the Unified Leyte geothermal power plants and the diesel barges in Mindanao.
PSALM is the state firm responsible for privatizing the Philippine government's power assets. Earlier, the state-run facility announced that it would auction the Unified Leyte power plants' 640-megawatt output. It would also offer four power barges up for sale in October. Eight firms, including Therma Power Visayas Inc, a subsidiary of AP, had already signified their intention to bid for these four diesel generating power stations.
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