Electricity Generating Public Company Limited or EGCO Group has expanded its investment in the Philippines with the successful acquisition of an additional 8.05% stake in the Masinloc power plant.

Mr. Chanin Chaonirattisai, President of EGCO Group revealed that “EGCO Group has successfully acquired the additional indirect ownership interest in Masinloc Power Partners Co. Ltd. (MPPCL) on July 12, 2016. The acquisition increases EGCO Group’s holding to 49% while AES Corporation (AES) retains 51%.”

MPPCL owns, operates and maintains Masinloc coal-fired power plant comprising 2 units of 315MW located in Zambales Province, Philippines. In addition, MPPCL is constructing a 335MW expansion project (Unit 3) which is located at the existing site. Unit 3 will be one of the first power plants in the country to utilize efficient supercritical technology. It is scheduled to start its commercial operation by mid-2019.