Listed power producer Trans-Asia Oil and Energy Development Corp. has acquired the stake of partner Holcim Philippines Inc. in a diesel power plant in Bulacan province.
In separate disclosures, the companies said Trans-Asia purchased Holcim’s 50 percent share in joint venture firm Trans-Asia Power Generation Corp. (TAPGC).
TAPGC owns and operates a 52-megawatt (MW) diesel power plant in Norzagaray, Bulacan.
The power plant provides all the electricity requirements of Holcim’s cement plant in Bulacan. Excess output is sold to the Wholesale Electricity Spot Market.
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