(MENAFN) San Miguel Corp Global Power Holdings stated it has made an agreement to acquire the 630-MW Masinloc power plant for 1.9b USD.
In the statement, the company mentioned that the holding company for San Miguel Corporation's investment in the power industry will value 2.4b USD according to the transaction.
The 335-MW coal-fired unit which is under construction at present, and the 10-MW Masinloc energy storage project under commissioning are also included in the sale.
The company said: "The new unit will employ the supercritical boiler technology that will result in higher efficiency and significant reduction in carbon dioxide emissions."
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