SAN Miguel Corporation's (SMC) power unit, SMC Global Power Holdings Corp., now fully owns and operates the 1,200-megawatt (MW) net Sual coal-fired thermal power plant, its erstwhile independent power producer (IPP) partner, TeaM Energy Corp. (TeaM Energy), said on Sunday.
SAN Miguel Corporation's power unit, SMC Global Power Holdings Corp., now fully owns and operates the 1,200-megawatt net Sual coal-fired thermal power plant, its erstwhile independent power producer partner, TeaM Energy Corp. , said on Sunday.This comes following the expiry of a cooperation period under Team Energy's IPP contract, originally dated May 20, 1994.
SPI, Team Energy said, is the IPP administrator of the Sual power plant, pursuant to the IPPA administration agreement between SPI and Psalm. That agreement ended on the day of Team Energy's transfer of the plant to Psalm, thereby giving SPI the right to full ownership of the plant.
Miguel Unit Now Fully Owns Sual Plant
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