Kauswagan Coal-Fired Power Plant Expansion

Active

Prospective

The project envisages the expansion of the existing GNPower Kauswagan coal-fired power plant located in Lanao Del Norte from 434 MW to 550 MW capacity. The plant will operate as a baseload plant to support the power demand and economic development of Mindanao. The project's sponsor consortium is GNPower Kauswagan Ltd Co., a the joint venture between AC Energy Holdings (unit of Ayala), Power Partners and Philippine Investment Alliance for Infrastructure (PINAI) Fund. AC Energy (Ayala) corners 80 percent of the project. The project company has signed an agreement for sale of 330 MW of power from the plant to Power Supply Aggregation Group Corp. (PSAGCorp), a group of Mindanao electric cooperatives. Construction of GNPower Kauswagan’s power plant is estimated to cost around $1 billion, which will be funded by both debt and equity at the ratio of 73:27. The amount of debt is $765 million. Lenders are Rizal Commercial Banking Corporation, Security Bank Corporation, Bank of the Philippine Islands, Development Bank of the Philippines, Cathay United Bank, Prudential Hong Kong, Prudential Assurance Co. Singapore, Land Bank of the Philippines, United Coconut Planters Bank and Bank of China. https://ijglobal.com/data/transaction/36354/kauswagan-coal-fired-power-plant-550mw-expansion http://www.bworldonline.com/content.php?section=Corporate&title=ayala-corp.-unit-secures-additional-funding-for-coal-fired-power-plant&id=129932 http://www.ayala-energyinfra.com/ac-energy/conventional-energy/gnpowerkauswagan/ AC Energy holds an 85% economic interest in the project’s proponent GNPower Kauswagan Ltd. Co., it is limited partnership with the Philippine Investment Alliance for Infrastructure (PINAI) Fund and Power Partners Ltd. Co.

Energy

Philippines

World Bank Group

Project

Commercial, Power Generation (CCGT), Government, Manufacturing (Industrial)