GNPower Dinginin Unit 2

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The project entails the construction and operation of Unit 2 of the GNPower Dinginin plant. Both units have installed capacity of 668-MW, thus rendering the total output to 1,336-MW. Unit 1 closed financing and started construction in September 2016. GNPOWER Dinginin Ltd. Co. is the project company responsible for the implementation of the project. GNPower Dinginin Ltd. Co. is a joint venture of AC Energy (Ayala Corp subsidiary) with 50%, Therma Power (Aboitiz Power subsidiary) with 40% and Power Partners with 10%. Power facility is located in the Municipality of Mariveles, Luzon Island. The coal - fired plant will be developed on a BOO basis. LUELCO (La Union Electric Cooperative. Inc.) solicited proposals from power generators in 2016. As a result, GNPower's offer appeared to be the best with regards to rate and least cost per kwh. Coal is to be sourced under long-term offtake agreements with several Indonesian suppliers. Electricity will be sold to offtakers (several electric cooperatives) under long-term power purchase agreements (20 years). Besides the long - term PPAs, the plant will supply electricity to the Wholesale Electricity Spot Market. Total investment is estimated at $1.7 billion. The Ps22 billion ($436 million) peso-denominated, 12-year limited-recourse debt financing portion was provided by BDO Unibank, Rizal Commercial Bank, Development Bank of the Philippines, Security Bank Corporation, China Banking Corporation and Bank of the Philippine Islands. No further details on equity contribution and additional debt are available. Financial close was reached on December, 14 2017. https://ijglobal.com/data/transaction/39944/bataan-coal-fired-power-plant-2-668mw https://www.reuters.com/article/us-nxp-semicondtrs-m-a-qualcomm-eu/eu-antitrust-regulators-clear-qualcomm-purchase-of-nxp-idUSKBN1F71W1 http://infopub.sgx.com/FileOpen/SEC-PSE-PDEx-%20Financial%20Close%20of%20GNPower%20Dinginin%20Unit%202_12%2012%2017.ashx?App=Announcement&FileID=481841