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MANILA : Philippine power generator and distributor Manila Electric Co is selling a 40 per cent stake in a solar power subsidiary to global investment firm Actis for $600 million, the company
Philippine power generator and distributor Manila Electric Co is selling a 40% stake in a solar power subsidiary to global investment firm Actis for $600 million, the company said
Philippine power generator and distributor Manila Electric Co. (Meralco) is set to sell a 40% stake in its solar power subsidiary to the global investment firm Actis for $600 million.
MANILA (Reuters) - Philippine power generator and distributor Manila Electric Co is selling a 40% stake in a solar power subsidiary to global investment firm Actis for $600 million,
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MANILA — Philippine power generator and distributor Manila Electric Co MER.PS is selling a 40% stake in a solar power subsidiary to global investment firm Actis for $600 million, the company said on Friday. Proceeds will be used for the joint development and expansion of the Terra Solar energy storage project, Manila Electric said in a statement.
A total of 3.5 GWp of solar capacity and 4.5 GWh of battery energy storage systems (BESS) will be installed on the island of Luzon, about 100 km (62 mi) from Manila, across a 3,500-acre site. The hybrid park is expected to produce enough electricity to meet the needs of about 2.4 million households.
To build the world’s largest solar power project, Terra Solar, the Philippines' largest distribution company, Manila Electric Company (Meralco), established a strategic partnership with Actis of the UK on the 6th. This partnership has secured the largest
It follows an initial agreement from last September that enabled Actis to buy a stake of an undisclosed size in the Terra Solar project. Also known as MTerra Solar, the scheme will create what is said to be the largest integrated renewables and energy storage complex globally.
