24 April 2024
BG Group sells stake in Philippines power plants
Publication date: 30 May 2012
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BG Group announced on Wednesday that it has agreed to sell its 40% stake in two gas-fired power plants in the Philippines to its partner in the facilities, First Gen Corporation, for $360 million. The sale covers interests held in the 1,000 MW Santa Rita power plant and the 500 MW San Lorenzo power plant, both on the island of Luzon. The sale is part of BG Group’s wider $5 billion divestment plan.