The complex is composed of the 289-MW Tiwi plants in Albay and the 458-MW Makban facilities in Laguna and Batangas. The bid by Aboitiz Power beat out that of First Luzon Geothermal Energy which is owned by PNOC Energy Development Corp.
"This acquisition is very strategic for Aboitiz Power. It is a significant addition to our portfolio of renewable energy sources bringing us closer to our vision of making Cleanergy available to every Filipino," said AP President & CEO Erramon Aboitiz.
Upon closing of the Tiwi-Makban purchase, AP will have investments in generation facilities with a total generating capacity of 1,957 MW, more than 70% of which are powered by renewable sources of energy.
For additional information:
http://www.aboitiz.com/Main/index.php
http://www.aboitiz.com/newsroom/index.php?p=48&type=2&sec=29&aid=835
