Suweco eyes P4-B loan deal in first half
MANILA, Philippines – Renewable energy firm Sunwest Water and Electric Co. Inc. (Suweco) eyes to seal a P4-billion syndicated loan deal for new power plants within the first half of 2013.
The company appointed Investment & Capital Corp. of the Philippines as lead arranger of the loan facility, which will finance 70% of the total cost of 4 hydro power plants Suweco plans to put up.
Suweco President Jose Silvestre Natividad said the plants would have total capacity of 31.9 megawatts and would be completed between 2014 and 2016. The plants would generate an estimated 138.89 gigawatt hours of power per year, he added.
The 4 plants include:
- 6-MW Penablanca-Cagayan
- 15-MW Libacao-Aklan
- 1.5-MW Bansud-Mindoro
- 9.5-MW Bugasong-Antique