News

Regulation

Staff Reporter

, Philippines

Published:

13 years ago

EGCO to buy Covanta’s Philippine projects

Covanta will divest all of its interests in the Quezon coal-fired electric generation project to EGCO.

Under the agreement, Covanta will pay US$215 million to EGCO, which is a current partner in the project.

Covanta's president and CEO Anthony Orlando said that Quezon is a world-class asset and the valuation reflects its strong potential going forward.

The sale is expected to close in the first quarter of 2011, and the transaction is anticipated to generate a one-time after tax book gain of about US$140 milion at closing, according to Covanta.

Quezon is the first sale after Covanta announced its plans to divest its equity interests in four fossil fuel facilities in the Philippines, India and Bangladesh during June 2010.

Follow the link for more news on

Also Read

Will the government pay for coal power exit in Vietnam?

China's carbon market tightening to boost RE demand

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Hydropower output drops to 5-year low globally

The gap left by hydropower was met by fossil generation.

Power Utility

10 hours ago

IPCL and ES2 collaborate for pilot thermal energy storage project

The two companies launched a thermal storage unit with a 250 KWh capacity.

Project

10 hours ago

Renewable energy share in world’s electricity mix surpasses 30%

China is the main contributor as it comprises over half of the wind and solar installations.

Power Utility

10 hours ago

ACEN’s net income surges 34% YoY in Q1

The company has reached its 2025 5 GW renewables capacity target during the period.

IPP

10 hours ago

Exclusives

Pressures mount for less desirable energy insurance placements in the region

Industry experts eye offshore investments as most attractive, yet more expensive.

Environment

15 hours ago

Will the government pay for coal power exit in Vietnam?

The country’s coal power phase-out strategy sees renewables accounting for 67.7%–71.5% of the energy mix by 2050.

IPP

6 days ago

Japanese utility firms into serious business of reselling LNG surplus

Declining local demand for LNG directs Japanese companies to the South and Southeast Asian markets.

Power Utility

India removes licence requirement to build transmission lines for bulk consumers

The rule applies to those with at least 25 MW of load for inter-state connection and at least 10 MW for intra-state.

Event News

Thailand at the forefront of ASEAN's energy transition: A look ahead to Future Energy Asia

Co-Written / Partner

Co-hosted by industry leaders and supported by government officials, the Future Energy Asia Exhibition and Summit aims to accelerate the region's journey towards net-zero emissions.

Co-Written / Partner Celebrate your exceptional energy and sustainability initiatives with Asian Power

Co-Written / Partner Abu Dhabi Sustainable Water Solutions clinches two wins at Asian Water Awards

Technology VR and AR training are vital for the renewable energy workforce

Co-Written / Partner Thailand at the forefront of ASEAN's energy transition: A look ahead to Future Energy Asia

Co-hosted by industry leaders and supported by government officials, the Future Energy Asia Exhibition and Summit aims to accelerate the region's journey towards net-zero emissions.