San Miguel eyes Sucat plant

After acquiring a Bataan plant, San Miguel Corporation expressed interest in buying the Sucat Thermal plant, a dormant plant in Manila.

San Miguel, Southeast Asia's biggest food and drinks company, has been venturing outside its established businesses as a growth startegy.

The 600 megawatt power Sucat plant is owned by the state-run National Power Corporation.

Just two weeks ago, SMC through the San Miguel Energy Corp., acquired the Limay, Bataan power plant, a 620-megawatt combined cycle power facility, which the government was unable to sell for four times. It is SMC's first power plant.

The acquisition was through a negotiated sale transaction with the Power Sector Assets and Liabilities Management Corp.

SMEC offered $13.502 million for the Bataan-based plant, surpassing the reserve price.

The power plant remained unsold after three public biddings in July 2008, January 2009, and March 2009 due to lack of interest from investors.

The successful negotiated sale was the fourth attempt of PSALM to privatise the Limay plant.

Also Read

What is the future of gas in Australia's energy market?

Vietnam’s weak grid a barrier to direct power purchase policy

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit