Energy World Corporation informed that it has executed the financing documentation for the first phase of its 650 MW LNG-powered combined cycle power plant in Pagbilao, Philippines, for the amount of $150 million.
Funding for the facility will be provided by the syndicated term loan facility’s mandated lead arranger, the Development Bank of the Philippines and joint lead arrangers, Lanbank and Asia United Bank, EWC said in a statement.
The company is also in the process of concluding a further debt financing facility for its associated LNG hub terminal at Pagbilao.