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Meralco inks 7 year coal supply deal with Semirara
Semirara Mining Corp signed a seven-year deal to sell up to a 410-megawatt power capacity to Meralco.
The deal involves an initial contracted capacity of 210 megawatts which can be increased by 200 MW.
The two parties could extend the deal by three years, Semirara told the stock exchange.
Meralco, which is indirectly controlled by Hong Kong-based conglomerate First Pacific Co Ltd and partly owned by San Miguel Corp, is looking to build power plants with a total capacity of 1,500 megawatts over the next four years to meet an expected increase in power demand.
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