Philippines moves power plants offshore

May 31, 2011 at 3:33 PM
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MANILA, Philippines, May 31 (UPI) -- The energy-poor Philippines is investing in mobile offshore power plants.

Manila is investing in offshore mobile power plants to ease the country's chronic energy shortages, which even affect Manila.

The Philippine Star reported Tuesday that Therma Mobile Inc., a subsidiary of Aboitiz Power Corp., has acquired four barge-mounted floating power plants from Duracom Mobile Power Corp. and East Asia Diesel Power Corp.

EADPC informed the Philippine Stock Exchange that ownership of EADPC was in the hands of YNN Holdings Corp., which has acquired majority of EADPC shares.

EADPC itself is a subsidiary owned by East Asia Power Resources Corp., which was incorporated in 1975 and has headquarters in Navotas City.

EAPRC and its subsidiaries have focused on issues of ownership and operating power generation facilities for Manila and surrounding areas. EAPRC intends to use petroleum based bunker diesel fuel for its power barges.

In 2009 EAPRC had a total installed power generating capacity of 242 megawatts. EAPRC was formerly known as Northwest Holdings and Resources Corp.

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