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AES to complete $930mln Philippine plant deal Apr 15

Mon Mar 31, 2008 11:02pm EDT
 
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SINGAPORE, April 1 (Reuters) - AES Corp (AES.N: Quote, Profile, Research, Stock Buzz) will complete the $930 million payment for its purchase last year of the Masinloc power plant in the Philippines in two weeks, Mark Woodruff, President Asia and Middle East for the U.S.-based power firm said on Tuesday.

"That deal's all buttoned up and ready to be done on the 15th (April)," he told Reuters.

The 600-megawatt Masinloc plant deal will be funded through multilateral agencies and banks, he said, without giving details.

He added there were other deals in the works in Vietnam, India and China for traditional power and renewable energy projects.

AES has 60 percent of its revenue outside the United States with around 10 percent of total revenue in Asia, he said at an energy conference. (Reporting by Chua Baizhen, Editing by Ramthan Hussain)

 

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