Philippine utility Meralco hunts for partners for Atimonan coal-fired plant

It needs investors for the 2x600MW facility.

Meralco is currently in talks with Asian firms as it looks for potential investors for the planned coal-fired power plant in Atimonan, Quezon.

The company has already secured funding for the 2x600MW facility and has achieved preliminary deals with eight banks for a Php107.5b (US$2.1b) loan.

We’re waiting for PSA (power supply agreement) approval. We’ve already come to an agreement with the banks but we need the PSA before we finalize the agreement,” according to Meralco chief finance officer Betty Siy-Yap.