With 80% of the government’s power generation assets already sold to private owners, the Philippines’ power industry faces the herculean task of building new plants to meet the country’s future electricity needs.
The current construction pipeline includes 2,412 megawatts MW of committed projects, and another 13,441MW of proposed developments, which equates to a massive investment of $39 billion over the next 15 years.
“If you also take into account the number of underperforming plants that need to be replaced or reconditioned, the amount of money required is vast,” said Dennis Montecillo, senior managing director at BPI Capital in Manila, and a banker to many large power companies....
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