U.S. power firm to invest $2 billion in PH

By Balitang America Staff

June 4, 2014

REDWOOD CITY, Calif. – A U.S. energy company sees growth opportunities in the Philippines and announced plans Wednesday to invest $2 billion to expand power plants in energy-deficient central provinces.

During a trip with U.S. Commerce Secretary Penny Pritzker to Manila this week, AES Corp President Andres Gluski said his company will double the capacity of its 600-megawatt coal-fired plant in Zambales province within three years.

AES also hopes to install energy storage facilities in Central Visayas where there is an energy shortage.

Secretary Pritzker said the Philippines’ economic growth in 2013 was one of the fastest in Asia and that power needs have to match that growth.

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