MGen and Aboitiz Power acquire 67% stake in SMC's $3.3B LNG project

Meralco Power Gen (MGen) and Aboitiz Power Corporation will acquire a 67% stake in SMC Global Power Holdings Corp.'s $3.3 billion integrated LNG project, including the existing 1,278 MW Ilijan gas plant, a 1,320 MW expansion, and an LNG import terminal, with MGen holding 60% of the acquired stake and Aboitiz Power 40%.

“The power investment arm of Manila Electric Company (Meralco) will corner the majority stake of more than 40-percent in the $3.3 billion integrated liquefied natural gas (LNG) project originally owned and developed by SMC Global Power Holdings Corp.”mb.com.ph

• 1 source
• mb.com.phManila Bulletin - Meralco subsidiary corners majority stake in San Miguel’s $3.3-B LNG projectMyrna M. VelascoMar 2, 2024

Summarized from public sources; check the original articles before acting on it.