Hunton & Williams Represents Electricity Generating Public Company in USD453M Philippines Power Plant Partnership

Time 2 Minute Read
July 17, 2014

BANGKOK — July 17, 2014 — Hunton & Williams (Thailand) Limited advised Thailand’s first independent power producer Electricity Generating Public Company Limited in its USD453 million (14,750 million Baht) acquisition of 40.95 percent indirect ownership interest in the 630 MW Masinloc power plant as part of a strategic partnership with global power company AES Corporation. The investment will provide EGCO with opportunities for expansion in the future as well as other long-term co-development prospects in SouthEast Asia.

The transaction, announced June 25 and closed July 15, enhances EGCO’s established track record of expanding its presence in the Philippines power sector. The financial close is expected to be complete in the third quarter this year. After the sale, AES will own a 51 percent net stake in Masinloc.

Located in Zambales, Luzon, Masinloc power plant commenced operations in 1998 as a government-owned facility. It was acquired by AES and its partners under the Philippines government’s privatization program in 2008 and has maintained excellent safety and community relations records since that time.

The Bangkok-based Hunton & Williams team is led by Edward B. Koehler and includes Chumbhot Plangtrakul and Brad Alexander.

The Hunton & Williams energy practice is dedicated to advising clients on a broad range of energy and infrastructure matters, including financing, project development, asset and company acquisitions and dispositions, energy regulatory and environmental issues, corporate transactions and financial restructuring.


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