Monday, November 14, 2016

Philippines: Three Local Firms Shortlisted for Chevron Geothermal Assets

3 Pinoy groups vie for Chevron assets: Tiwi Makban steam field for sale (Malaya Business Insight)

Three Filipino groups have been shortlisted to buy the geothermal assets of Chevron in the Philippines and Indonesia.

For sale is the steam field of Tiwi Makban in the Philippines and steam power plants in Indonesia.

The Filipino groups include Energy Development Corp. which partnered with Japanese power companies Mitsui and Kyushu, Aboitiz Group and Marubeni, Ayala Group with another Japanese partner  plus two foreign groups.

“They were seven groups that submitted bids but only five were shortlisted”, EDC senior vice president and chief finance officer, Nestor Vasay told reporters during First Gen’s power plant inauguration in Batangas.