600MW LNG plant in Batangas – capex c $500 mio

200MW x 5 WtoE plants in Manila – capex c $1.5 billion

Under the state’s National Renewable Energy Program (NREP), the DOE seeks to increase the Re-power based capacity of the country to 15, 304MW by year 2030, or three times the 2010 capacity level. As a critical milestone to meeting these targets, 2.155MW of additional capacity must be installed. NEWCO is working with its local partner to roll out overall 5 plants for a capex of over $2 billion. Expected IRR in excess of 25% pa. Financial Governmental subsidies/ incentives available.