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Independent power producers (IPPs) contracted by the state-run National Power Corp. (Napocor) to supply electricity are not too keen on the proposed buyout of power supply deals.
First Private Power Philippines, Alsons Power Corp., and Southern Energy Philippines said that while the buyout of the contract is legal under the signed deal with Napocor, it may not be an "easy task." The three companies have existing build-operate-transfer (BOT) agreements with the Napocor.
"This is not an easy thing to do. We have lenders that we have to consult. We have more than one lender. Some IPPs have two to 56 lenders. We have to consider the position of all our …