Aboitiz Power interested in Chevron assets in Indonesia and the Philippines

Makban geothermal power plant, Philippines (source: ThinkGeoEnergy, creative commons)
Alexander Richter 17 May 2016

Aboitiz Power is actively pursuing a bid in the geothermal assets of Chevron in Indonesia and the Philippines and does not exclude a possibility of a bid in partnership with other firms.

As reported yesterday from Manila, Aboitiz Power Corp is interested in acquiring the geothermal assets of Chevron in Indonesia and the Philippines.

With the great and wide interested in those assets, this seems to become an interesting bidding contest. Aboitiz though made it clear, that it is waiting to see details about any possible terms of an acquisition before any concrete bid for these assets. According to Reuters, it is so far unclear of the assets will be sold in one block or in pieces. Some voices say a sale of the assets in pieces is more likely given the overall size of the assets.

Aboitiz Power is open to bids in partnership with other companies.

There are a variety of bidders and great interest …

We reported earlier on this, naming a list of companies. Here below now an updated list of companies eyeing an acquisition of Chevron’s assets.

  • Engie (formerly GDF Suez), France
  • Marubeni, Japan
  • Mitsubishi Corp, Japan
  • Aboitiz Power Corp. from the Philippines
  • Energy Development Corp. (EDC), Philippines
  • Banpu Power, Thailand
  • China Investment Corp. (Sovereign Fund from China)
  • Malakoff Corp., Malaysia
  • Ormat Technologies Inc., U.S.
  • PT Medco Power Indonesia

Source: Reuters