Aboitiz Power closes financing for 300-MW Cebu plant

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Aboitiz Power closes financing for 300-MW Cebu plant

Aboitiz Power and Vivant have closed financing to develop its 300 MW coal-fired power plant in Cebu, an island province in the Philippines.

The companies have achieved an agreement with a consortium of lender-banks to extend a PhP32 billion (US$698.6 million) project finance loan to Therma Visayas, whic is owned by Therma Power, Inc. (80%), a wholly-owned subsidiary of Aboitiz Power Corporation, and Vivant Integrated Generation Corporation(20%).

PSBank has recently announced that it has joined a syndicate of lenders, as the only thrift bank, that extended the project finance loan for the project.

The project is located at Barangay Bato, Toledo City. Construction works started in April this year and it is expected that the new facilities will be commercially operational by early 2018.

Hyundai Engineering Co., Ltd and Galing Power Energy Co, Inc. was appinted last year as the engineering, procurement and construction (EPC) contractor for the project.

List of country news

Country news

  • September 16, 2015

    ThomasLloyd sells 125 MW solar projects in the Philippines

    ThomasLloyd has confirmed that ThomasLloyd CTI Asia Holdings Pte Ltd, a wholly owned subsidiary of ThomasLloyd SICAV-SIF-Cleantech Infrastructure Fund has divested all of its rights to the projects of Negros Island Solar Power Inc. in a second transaction with Philippine Investment Alliance for Infrastructure (PINAI). Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.