Members of a Chinese trade mission which visited the Philippines in December 2000 have said they are prepared to invest up to US$19M in the Philippines’ energy sector, and are particularly interested in hydro power projects.
In a meeting with the National Power Corporation (Napocor) the mission, headed by vice minister Chen Xiahun of the Ministry of Foreign Trade and Economy, expressed an interest in hydro power projects, especially in Northern Luzon. Chen said that the mission is also interested in establishing small thermal power stations and mini hydro projects.
Napocor’s president, Frederico Puno, told reporters that his company is interested in China’s expertise in developing hydro power plants. He said that China has particularly expertise when starting new hydro power in harsh or geographically remote settings.