Aboitiz Power eyes electricity deal with large iron and steel project
Aboitiz Power plans to sell electricity to a new planned large-scale iron and steel project in the Philippines, with a potential of 300-600 MW of power.
Philippines-based Aboitiz Power Corp. plans to sell electricity to the planned $4.4-billion integrated iron and steel project of HBIS Group Co. Ltd. of China, Huili Investment Fund Management Co. Ltd. and Steel Asia Manufacturing Corp. in Misamis Oriental province, as reported by the Manila Standard.
The expected power demand of the facilities are expected from 300 to 600 MW, so a huge deal for Aboitz Power, that owns hydroelectric, geothermal and solar power generation facilities and coal-fired power plants that can supply the power requirements of the steel project.
It is unclear how this could effect the renewable energy or geothermal business of the company.
Source: Manila Standard