THE country’s businesses which were led by the tycoons Manuel Pangilinan, Ramon Ang and Sabin Aboitiz opted to team up as they launched the Philippines’ first and “most expansive” integrated liquefied natural gas (LNG) facility in Batangas.

The deal is said to be at a value of the entire enterprise at $3.3 billion.

The combination of San Miguel Global Power Holdings Corp. (SMGP), Meralco PowerGen Corp. (MGen) and Aboitiz Power Corp. (AP) is said to be a joint investment in two of its gas-fired power plants — the 1,278-megawatt Ilijan power plant, and a 1,320-megawatt combined cycle power facility set to start operations this year.

It was said that the three parties is said to invest 100% of Linseed Field Corporation’s LNG import and regasification terminal, which will be used to receive, store and process fuel for the two power plants.

“For the first time, three leading power companies are working together to secure our country’s energy needs while transitioning towards cleaner power sources,” SMGP chairman and president Ang said.

“This represents a major leap forward for our energy future, ensuring not just reliability but also cost-efficient power for many Filipinos,” he added.

In a statement the companies said that the partnership will add some 2,500 megawatts of generation capacity to the country’s power supply once fully operational, meeting the country’s energy requirements and providing support to its target to lower emissions.