January 28, 2015 5:00 AM ET

Electric Utilities

Company Overview of GNPower Mariveles Coal Plant Ltd. Co.

Company Overview

GNPower Mariveles Coal Plant Ltd. Co. owns and operates coal-fired power generation plants. The company was founded in 2007 and is based in Pasig City, the Philippines. GNPower Mariveles Coal Plant Ltd. Co. operates as a subsidiary of GNPower Ltd. Co.

1905 Orient Square Building

Don Francisco

Ortigas Junior Road

Ortigas Center

Pasig City,  1604

Philippines

Founded in 2007

Phone:

63 2 638 4542

Fax:

63 2 638 4575

Key Executives for GNPower Mariveles Coal Plant Ltd. Co.

GNPower Mariveles Coal Plant Ltd. Co. does not have any Key Executives recorded.

GNPower Mariveles Coal Plant Ltd. Co. Key Developments

GNpower Mariveles Coal Plant Ltd. Secures Power Supply Agreement

GNPower Mariveles Coal Plant Ltd. (GMCP) and an electricity cooperative in Leyte have secured regulatory approval for their power supply deal. Under the agreement, GMCP will supply five megawatts (MW) to LEYECO V for five years. The company owns a 600-MW coal-fired power plant in Mariveles, Bataan. This, according to the order, will translate to a total of 3.650 gigawatt-hours of electricity to be supplied to LEYECO V every month at an average rate of PHP 4.3452 per kilowatt-hour.

AC Energy Holdings In Talks For Acquisition Of 600 MW Power Plant Of GNPower Mariveles

AC Energy Holdings, Inc. is in talks for the acquisition of stake in 600-megawatt coal-fired power plant in Mariveles from GNPower Mariveles Coal Plant Ltd. Co. Eric T. Francia, President of AC Energy said, "Ayala plans to be part of the expansion. We are still in discussion with our partners regarding the ownership stake for the expansion. It will most likely be a separate company or but it has not been finalized yet." Francia was referring to the planned 600-MW expansion of GNPower, whose existing 600-MW coal facility in Bataan is set to start commercial operations in May 2013. Francia added, "Should AC Energy pursue the partnership, the Ayala-led firm will not be required to increase its stake in GNPower to participate in the planned expansion." Francia earlier said, "Our strategy of record for AC Energy is to have a combination of conventional (or fossil fuel) and renewable energy resources. Given the realities, the need for the country to have baseload and relatively competitively-priced power, we see the mix [of our power portfolio] tipping toward the conventional energy (such as coal). We will deploy 70% of equity capital in the first five years to conventional sources and 30% on renewable energy sources. Over time, we will have a more balanced mix and more of renewable energy although we believe it will take us some time to get there."

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