APC acquires 4 power barges

MANILA, Philippines - Therma Mobile Inc., a wholly-owned subsidiary of Aboitiz Power Corp. (APC), has acquired four barge-mounted floating power plants from Duracom Mobile Power Corp. and East Asia Diesel Power Corp. (EADPC).

In a disclosure to the Philippine Stock Exchange, East Asia Power Resources Corp. (EAPRC), the holding company of EADPC, on the other hand, said YNN Holdings Corp. has acquired majority of shares od EADPC.

EADPC is a wholly-owned subsidiary of East Asia Power Resources Corp. (EAPRC), which was incorporated in 1975 and is based in Navotas City.

Through its subsidiaries, EAPRC engages in the ownership and operation of power generation facilities in Metro Manila. The company uses bunker diesel fuel in its power barges.

As of end-2009, it had a total installed power generating capacity of 242 megawatts. The company was formerly known as Northwest Holdings and Resources Corp.