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The Sual Plant as seen from a commercial flight from Manila to
Northern Luzon.

The Sual Power Plant facing the Lingayen Gulf is near the famous
Hundred Islands.


The Pagbilao Plant situated at the southern tip of Pagbilao Grande Island.

Click image to download Marubeni IPP combined map in PDF format

Excerpts...

Excerpts from an ad posted by Marubeni during the 71st of Napocor in November 2007:

Marubeni Corporation continues to vest its faith and confidence in the Philippine economy under the able leadership of President Gloria Macapagal Arroyo. We support the sound economic reforms put in place by the administration*s implementing agencies and institutions aimed toward the pursuit of robust economic growth under a well established competitive environment in its effort to attract private sector investors.

This is the reason why Marubeni was confident to substantially invest more in the Philippines, particularly in the power sector. Marubeni invited Tokyo Electric Company, one of the biggest power utilities in the world, to be its partner in acquiring the 1200MW Sual and 670MW Pagbilao of Mirant * the two largest plants serving the Luzon Grid. This new venture is now called TeaM Energy Corporation.

Having established our aggressiveness in this major acquisition of Mirant's assets, the subsequent auction of the assets of the National Power Corporation thus fetched very attractive prices from a wide range of global power players in the power industry. The successful sale of these generating assets affirms continued investor confidence in government’s policies and reforms for the electricity industry in general. The attractiveness also manifests the faith of the private sector that the privatization efforts of government will continue towards achieving a full market economy.

Marubeni, together with its other partners, continue to look at expanding its current asset portfolio, focusing on the renewable energy assets being auctioned by government, specifically the hydro and geothermal power plants.

We believe that the entry and active participation of new players in the WESM, will result in reasonable electricity prices for consumers and a more reliable power supply and demand balance. This will eventually spur further industrial activity and over-all economic growth which in turn, benefits all the investors in the power sector like Marubeni. This is why now, more than ever, we continue to look at opportunities to invest in the Philippines!

Excerpts from a press release issued on the occasion of the visit of the Presidents of Marubeni Corporation and Tokyo Electric on February 2007 after it won the bidding for the Mirant Philippines’ assets and paying a courtesy call to Her Excellency Gloria Macapagal-Arroyo, President of the Republic of the Philippines:

The Presidents of 2 of Japan’s biggest corporations, Tokyo Electric Power Corporation (TEPCO) and Marubeni Corporation will visit Malacanang Palace today to reaffirm their faith in the Philippine economy under the stewardship of President Arroyo. The two companies recently mounted a successful bid to acquire the local assets of Atlanta-based Mirant Corporation. Mirant has a total aggregate capacity 2200MW in two coal plants and a natural gas plants in Luzon. If the acquisition pushes through, Marubeni will now have 2,700MW in total plant capacity in the Philippines. TEPCO, meanwhile, is the newest player in the Philippine electric industry scene since the energy deregulation program of government started some 10 years ago.

The President of TEPCO Mr. Tsunehisa Katsumata, a graduate of Tokyo University and the President of Marubeni Mr. Nobuo Katsumata, a graduate of Keio University are brothers. It is very rare in corporate Japan that brothers become CEO’s of big corporations simultaneously and this teaming-up of both companies for a major investment in the Philippines may prove auspicious as the Philippine economy is in a rather good shape now than before.

Marubeni is a major general trading house in Japan with investments in power and telecoms in the Philippines. It also trades sugar, wheat and a variety of food products. It is looking to further develop a waste-to-power project in Metro Manila and a bio-diesel plant in Southern Luzon. TEPCO is the largest private power utility company in the world. It serves Metropolitan Tokyo in area totaling about 2/5 the size of Luzon island and has 28 million customers. It has an installed plant capacity of 63,000MW, 39,000 km of transmission line and 256,000MVA of transformer capacity. In contrast, the total installed plant capacity in the Philippines is about 13,000MW; the National Transmission Company or Transco has 21,319 km of transmission line and 24,300 MVA of transformer capacity. Meralco in turn has some 4 million customers.

With its wealth of experience in the operation of all aspects of the electricity business, TEPCO promised to share its technical know-how with Transco, Napocor and Meralco.

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