Japanese utility JERA has bought a 27 stake in the Aboitiz Power Corporation, one of the largest utilities in the Philippines, for USD 1.58 billion in a move to further expand its presence in the country. JERA and Aboitiz Power said they will explore a number of areas of collaboration including jointly developing LNG-to-power projects. JERA – Japan’s largest power producer – announced on Monday that it agreed the stake purchase with Aboitiz Equity Ventures and Aboitiz Company.
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