Dubai-based Lloyds Energy teamed up with Mitsubishi Corp. of Japan to put up a 1,200-megawatt liquefied natural gas power plant in the Philippines, according to the Energy Department.
Energy Secretary Alfonso Cusi said Lloyds Energy was preparing the documents for its permits to proceed with the planned merchant LNG power plant.
“Lloyds Energy, together with Japan Mitsubishi, will put up a 1,200-MW LNG power plant...Lloyds is for the merchant power plant whose feedstock is LNG. It is not LNG farm,” Cusi said.
“They’re working on their papers. They’re going to submit it to us. That is the product of our negotiation when we went to Japan during the trip of the President that I think was something like end of May, early June. That’s just a product of our discussion with the Japanese and Lloyds Energy,” the energy chief said.