Philippines: ACQUISITION AND REHABILITATION OF THE MASINLOC COAL- FIRED THERMAL POWER PLANT

Nonsovereign Project | 41936-014

Summary

ACQUISITION AND REHABILITATION OF THE MASINLOC COAL- FIRED THERMAL POWER PLANT

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Project Name ACQUISITION AND REHABILITATION OF THE MASINLOC COAL- FIRED THERMAL POWER PLANT
Project Number 41936-014
Borrower/Company
Country Philippines
Location
Approval Number 7273/2405
Type or Modality of Assistance
7273/2405 Loan US$ 200.00 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector For classification - For classification
Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Kurumi Fukaya
Project Sponsor(s) AES Corporation
Description ACQUISITION AND REHABILITATION OF THE MASINLOC COAL- FIRED THERMAL POWER PLANT
Objectives and Scope
Linkage to Country/Regional Strategy The Project is fully in line with ADB s country and energy sector strategies. The Project will immediately complement ADB s Power Sector Development Program s objectives of improving the country s fiscal imbalance by catalyzing privatization of an NPC-owned power plant and bringing in revenues to the Government. The Project will also help to improve the investment climate by increasing the reliability of generating capacity for the commercial and industrial centers of the country. Successful acquisition and operation of the Masinloc plant by AES, a reputable and experienced independent power producer, will boost market confidence and induce follow-on privatization of NPC s assets and new entry to the market. The Project will enhance competition in the Philippine market for electricity generation and, in the long run, help to drive electricity prices down.
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 22 Nov 2007
Due Diligence 12 Oct 2007
Credit Committee Meeting -
Approval 15 Jan 2008
PDS Creation Date 23 Oct 2007
Last PDS Update 10 Jul 2012
Title Document Type Document Date
Acquisition and Rehabilitation of the Masinloc Coal-Fired Thermal Power Plant Reports and Recommendations of the President Dec 2007

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