Swedish firm North Investors AB plans to fund the construction of hydropower plants in Nueva Ecija and Mindoro in the Philippines, with a combined capacity of 71MW.
North Investors AB director Jan Pettersson told Malaya Business Insight that the firm has tied up with Filipino firm Constellation Energy for the hydro projects.
The programme includes the construction of a 4MW plant in Nueva Ecija, a 28MW plant and a 39MW unit, both in Mindoro.
The firm will own 40% of the joint venture with Constellation.
Work on the hydro project, the first venture for North Investors in the Philippines, will start in 2012.
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