After building a fortune out of property development particularly mass housing, tycoon Andrew Gotianun is breaking into the power generation business to cater to rising household and industrial demand for electricity.
In a disclosure posted on the Philippine Stock Exchange on Tuesday, Gotianun-led Filinvest Development Corp. said it was considering two potential “clean” coal-fired power generation projects, namely a 150-megawatt project in Luzon and another 150-MW project in the Visayas.
“FDC is in the process of applying for permits from the relevant governmental and regulatory authorities and is in negotiations with potential equipment suppliers and potential power off-takers with respect to each project,” the disclosure said.
With respect to the potential power project in the Visayas, FDC said it’s conducting a feasibility study with respect to a potential water desalination facility at the same site that would be operated using off-peak power from the proposed power plant.
A senior expert in the Philippine infrastructure industry will be joining the Filinvest group effective January 1 to implement its potential infrastructure and utilities projects, the disclosure added.
