Mr. Chanin Chaonirattisai, President of Electricity Generating Public Company Limited or EGCO Group stated that the Company has purchased 2% indirect ownership in Quezon Power (Philippines), Limited Co., (QPL) from PMR Holding Corp. EGCO has entered into the Sale and Purchase Agreement on September 30, 2015. The total purchase price was USD 15.027 million. The transaction was completed with share transfer on October 1, 2015, resulted in EGCO’s 100% indirect ownership in QPL.

QPL owns and operates Quezon power plant which is a 503MW (Gross) coal-fired power plant, 31km transmission line and certain related facilities in Quezon province in the Republic of the Philippines. The plant commenced its commercial operation in May 2000 and sells its electricity output to Manila Electric Company (MERALCO) under 25-year power sales agreement.

Quezon power plant is considered as one of the best power plant in Southeast Asia with the history of consistent and stable cash flows, reliable operations and an outstanding environment track record.