The Aboitiz Power Group in the Philippines expects to sign several loan agreements in 2013, which will enable the company to finance two coal power plant projects worth a total of $1.82bn.
According to the Phillipines Inquirer, APC chief financial officer Iker Aboitiz explained to them that they expected to sign the loan agreement for the 300 MW coal plant in Davao by the end of the second quarter.
Aboitiz earlier disclosed that the lead arranger for the transaction is BDO Capital.
APC is also expecting to sign by the middle of the third quarter this year the loan agreement for the $1.1bn, 600 MW coal plant in Subic, which the company is undertaking with power distributor Manila Electric Co. and Taiwan Cogeneration through a vehicle firm called Redondo Peninsula Energy Inc. (RP Energy).
Both coal facilities are considered crucial by the Philippines Department of Energy as these will help provide energy security in their respective areas when operational.
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