Global Power Investments (GPI) has taken an indirect equity interest of 26 per cent in the Quezon power project in the Philippines. The equity interest was purchased from a Bechtel affiliate, InterGen, and Shell International Gas. The value of the investment has not been disclosed. GPI, a private fund, is managed by GE Capital Services through an affiliate.
Quezon is a $800 million coal-fired power plant being built in Mauban, Quezon Province, on the island of Luzon. The 440 MW power plant, which is almost one-third complete, is being built by Bechtel Power Corp. GE Power Systems is supplying the steam generator and environmental equipment.