DOE chief to meet with Korean firm for Angat plant

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Energy Secretary Jericho Petilla is expected to meet with Korea Water Resources Corp., which is requesting lower price tag for the Angat hydro power plant project

NEGOTIATION. Energy Secretary Jericho Petilla is expected to meet with Korea Water Resources Corp. for the Angat hydro powerplant. Photo by Lean Santos/Rappler

MANILA, Philippines – Energy Secretary Jericho Petilla is meeting with Korea Water Resources Corp. (K-Water) this week to discuss the firm’s request to lower the $440.88 million price tag on the Angat hydro powerplant facility.

K-Water is hoping the governments lower the tab for the 218 megawatt (MW) Angat plant, which it won in a bidding in 2010, citing the facility’s state and several signed provisions agreed by the government and the Korean firm.

Among the discussion points raised by K-Water in a recent letter to Power Sector Assets and Liabilities Management (PSALM), the country’s chief agency in privatizing energy assets, include:

  • Achieving the same level of benefits expected in 2010 bid
  • Inclusion of Angat plant’s auxilliary units 4 and 5 in the takeover

Petilla declined to disclose more details about the meeting.

“I am meeting (K-Water) to talk about some issues of Angat and how we can have an amicable settlement to make sure everybody is benefitting from it.”

“I am about to negotiate, so I cannot tell you the details of what we are talking about,” he said.

Petilla added the government only wants an acceptable or a “win-win situation” for both the government and K-Water. –

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