MPI on Wednesday said its tollways unit Metro Pacific Tollways Corp. (MPTC) sold 100% of its stake in Thailand’s AIF Toll Roads Holdings Co., Ltd. for $149.25 million.
Included in the applications received are two geothermal projects from FGEN’s subsidiary, Energy Development Corp (EDC). Total potential capacity for these two is estimated at 44 MW. If pushed through, this will translate to an increase of 3% to EDC’s total capacity.
Note that EDC was able to produce Php 38.74 Billion in revenues last 2019. With this in mind, an additional 44MW of geothermal capacity could bring in around a billion pesos in revenues or 1% increase to FGEN’s topline. FGEN is currently trading at 7.5x P/E full-year 2022 (FY22) below its 10-year mean of 10.0x.