Published May 11, 2021, 12:19 PM
Fort Pilar Energy Inc., which is the winning buyer of the 650-megawatt Malaya thermal power facility, is a new company that currently has investment of P5.0 billion for 100-megawatt hour (MWh) battery energy storage system (BESS) facility in Zamboanga Peninsula, according to asset-seller Power Sector Assets and Liabilities Management Corporation.
Fort Pilar Energy’s win in the negotiated divestment of the Malaya plant on May 7 this year came as a major surprise in the power sector, because it had beaten more entrenched player AC Energy Corporation (ACEN) of the Ayala group in that privatization exercise of the government.