SMC bids for Masinloc power plant
Conglomerate San Miguel Corp. (SMC) is bidding for the 51 percent controlling stake of US-based energy giant AES Corp. in the Masinloc coal-fired power plant in Zambales.
SMC president and chief operating officer Ramon S. Ang said the company would be bidding for the power asset on its own.
The Masinloc power plant has a capacity of 630-megawatt (MW) and has a 300-MW expansion underway.
The remaining 49 percent of AES is held by Thai power firm Electricity Generating Public Co. Ltd.