Quezon Power (QPPL) is not owned by the Lopez Family

Date

I think Mr. Butch del Castillo of the Business Mirror still need to have a deeper research to correct his understanding on his cited example in his article on this issue of the Business Mirror , “Expect a long, hot summer” - March 25, 2008, which according to him, Quezon Power is owned by the Lopez Family;

“Actually, the country has at least three more coal-fired power plants. At least one of them, Quezon Power, is owned by the Lopez family. Only these three are on their own as far as their coal needs are concerned.” - Expect a long, hot summer” - Business Mirror, March 25, 2008

Well, Quezon Power is one the IPP’s of MERALCO. MERALCO, on the other hand is 26% owned by the Lopezes’ through First Philippine Holdings. Certainly they do not own Quezon Power. Quezon Power is a partnership consisting of InterGen, Ogden Energy Group, Global Power Investments, and PMR Limited.

Maybe Mr. Del Castillo is referring to First Gas Power Corporation, another IPP of MERALCO, which Lopezes’ has also a majority stake. However, it will not fit in into his article because this is a natural Gas Fired Plant and not a coal fired plant.



Category Filed in: Generation Companies
Local date: March, 2010

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