EWC trashes Pagbilao LNG CCPP sale reports

Energy World Corporation responded to media reports claiming the company intends to sell the LNG-powered 650 MW combined cycle power plant in Pagbilao, Philippines.

According to the report, the bankers have offered the power station to industry players after EWC had floated the power facility on the market.

In its filing to the stock exchange, EWC informed that the reports are incorrect and without foundation.

The company said it has not offered to sell or has no intention to sell the LNG-powered combined cycle power plant, while bankers have no security over the hub terminal or the power facility and have not been appointed to sell the power station to industry players.

EWC also stressed that it has not floated the power plant on the market.

LNG World News Staff; Image: EWC