Prime Infra led Razon to spend P55B power and water projects

Prime Infrastructure Capital Inc. (Prime Infra) about 55 billion pesos to develop various projects aimed at adding value to its core business sectors.

At a news conference Thursday, Prime Infra president and CEO Guillaume Lucci said the company is “well-positioned” to build projects that support much-needed sustainability goals — energy, access to clean water, waste management, and critical viable infrastructure.

He said that up to 55 billion pesos of equity has been identified to finance existing projects and those in the pipeline.

“We need about 50 to 55 billion pesos in equity, give it, or take it to support our projects,” said Lucci.

Prime Infra said its energy portfolio has always been aligned with the national government’s goal of achieving energy independence and security, while reducing the country’s dependence on fossil fuels.

It recently completed the acquisition of a 45 percent operating stake in the Malambaya Deepwater Gas-to-Power project. The next step is to maintain and expand gas production in light of the growing demand for electricity.

The company is also expanding its energy portfolio by investing heavily in renewable energy sources – solar, hydroelectric, waste-to-fuel and gas-fired power plant in Iraq.

Prime is reported to invest at least 200 billion P200 in Terra Solar Philippines to build a solar facility that will be the largest contracted solar power plant in the world.

“The commitment made against Terra Solar is P200 billion. Keep in mind that we fund our projects with project financing at the asset level,” said Lucci.

Prime Infra is also committed to timely delivery of critical water infrastructure. Recently, its subsidiary, WawaJVCo Inc. , commercial operations for the first phase of the Bulk Water Supply Project in Rizal Province which will provide 80 million liters per day of raw water to the Manila Water Company and the Metropolitan Water and Sewer Works System.

The construction of the second phase of the project is expected to be completed by 2025.

Lucci said these projects support the company’s goal of building better lives and resilient economies through critical infrastructure.

“As you can tell, we have never stopped; we are always ahead, always on the move, looking for opportunities. We will continue to do so, remaining objective in the market segments we serve,” said Lucci. “Our advantage is that we are a very disciplined management. We are absolutely relentless and always moving two steps forward.”

“We actually get things done. Our track record – when it comes to getting ahead and getting things done in complex environments – is proven.”

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