Aboitiz Power signs financing for 68.8 MW hydropower facility

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Aboitiz Power signs financing for 68.8 MW hydropower facility
Hedcor Bukidnon, a wholly owned subsidiary of Aboitiz Power Corporation, has closed project financing for its 68.8 MW hydroelectric power generation facility located in Manolo Fortich, Bukidnon (Philippines).

Specifically, the firm has obtained loans and credit accommodations from a consortium of lender-banks in the amount of up to P10 billion (US$213.3 million) to finance the development, construction, operation and maintenance of its 68.8MW hydroelectric plant.

BPI Capital Corporation acted as Mandated Lead Arranger and Bookrunner, while Bank of the Philippine Islands - Asset Management and Trust Group is acting as Trustee and Facility Agent.

The P12.5 billion (US$266.6 million) project is designed to have two cascading plants, the 43.4 MW Manolo Fortich Hydro 1 and the 25.4 MW Manolo Fortich Hydro 2. This is the first venture of Hedcor in Bukidnon Province.

Aboitiz Power Corporation has recently announced that it has secured a a deal to co-develop a 110 MW geothermal plant with PT Medco Power Indonesia (MPI).
List of country news

Country news

  • March 12, 2014

    Rebel Group selected as advisor in $2.1B Batangas-Manila pipeline

    The Philippine National Oil Company (PNOC) has selected the Netherlands' Rebel Group International BV to provide transaction advisory services, for the $2.1 billion Batangas-Manila 1 (BatMan 1) natural gas pipeline project. Read more
  • June 12, 2014

    Aboitiz Power and TeaM Energy close financing for Pagbilao power plant

    Aboitiz Power Corp. and TeaM Energy, a company formed by Tokyo Electric Power Co. and Marubeni Corp., have partnered for the 400MW expansion of the Pagbilao coal-fired power plant, Pagbilao unit III, in Quezon, Philippines. Read more
  • June 19, 2014

    EDC signs bridge financing for Burgos wind project

    Energy Development Corporation (EDC), pioneer in the geothermal energy industry, has secured financing packages to partly bankroll the construction of Phase 2 of the 150MW Burgos Wind Farm in Ilocos Norte, Philippines. Read more
  • June 26, 2014

    AES plans to invest up to $2B for Masinloc power plant

    The American energy firm, AES Corporation, is planning to invest up to US$2 billion to expand its Masinloc coal-fired power plant in the northwestern Philippines. Read more
  • June 30, 2014

    AES sells stake in Philippines energy busines to EGCO Group for $453 million

    The AES Corporation has entered into an agreement to sell 45% of its interest in Masin-AES Pte Ltd, a wholly-owned subsidiary of AES that owns AES’ business interests in the Philippines, to Electricity Generating Public Company Limited (EGCO Group), a Thailand-based Independent Power Producer (IPP), for US$453 million. 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.