Japan's JERA To Invest $1.58B In Philippine Energy Producer

By Charlie Innis (September 27, 2021, 6:09 PM EDT) -- Japanese energy company JERA said Monday it would take a 27% stake in Aboitiz Power, a power producer in the Philippines, through a $1.58 billion investment aimed at promoting clean and renewable energy in the country.

JERA, a joint-venture between energy companies TEPCO Fuel & Power Inc. and Chubu Electric Power Co. Inc., inked the deal with Aboitiz Power's public holding company, Aboitiz Equity Ventures Inc., the company said.

The two utility giants plan to collaborate and potentially develop "zero-emission thermal power generation" technology, which generates power using "green fuels" like ammonia and hydrogen, JERA said. JERA is developing the technology in...

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