Meiya wins Asian Power’s IPP of the Year

The Asian Power Awards IPP of the Year honors was once again conferred to Meiya Power Company Limited.

CEO Manuel F. Perez Dubuc along with Senior Vice President - Chief Financial Officer James Dubow, and Senior Vice President - Corporate Development Hok L. Leung received the award from Asian Power Magazine publisher Tim Charlton at ceremonies held at JW Marriott, Bangkok last 8 October 2009.

A much-sought after partner for many power projects in Asia, Meiya Power won its first Asian Power Awards Independent Power Producer of the Year award in 2006.
MPC distinguishes itself by remaining profitable and competitive amid the global financial crisis. This enviable position is a result of long term strategic and disciplined thinking that the MPC management team had practiced in the last few years by following a fuel diversification and geographical diversification strategy to minimize and manage the market risk.

“MPC’s highly professional management team even turned the current financial crisis into a period of golden opportunities by parlaying its vast experience in the region and ample resources to grow the Company during this period of entrenchment,” said Charlton.

The Company has taken defensive measures by improving efficiencies and minimizing cost in its existing assets to increase their long term profitability. It has also been able to acquire certain projects in operation or under construction in its key markets.
Moreover, MPC aims to operate a diversified portfolio that has a significant component of cleaner fuels and renewable energy. It continues to expand its clean and renewable energy portfolio in order to enhance its overall fuel diversification strategy, as well as to reinforce its commitment to renewable energy.

“MPC not only survived the financial crisis but has seized the opportunity to grow bigger, to expand further into renewable and high technology power generation, and to make continuous efficiency improvements in its operating fleet,” Charlton pointed out.