Philippines’ sovereign wealth fund interested in Chinese stake in grid operator

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Reuters
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January 28, 2025 - 1:34 PM
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Synergy Grid and Development Philippines Inc. (SGP) has accepted a binding offer from President Ferdinand R. Marcos Jr.’s administration through the state-run Maharlika Investment Corporation (MIC) for a 20 percent stake to secure a foothold in the National Grid Corporation of the Philippines (NGCP) on Jan. 27, 2025. (Presidential Communications Office/Released)

MANILA — The Philippines‘ sovereign wealth fund would be interested in the stake held by China’s State Grid Corp in the operator of the country’s power grid, its president said on Tuesday.

Maharlika Investment Corp president and chief executive officer Rafael Consing Jr told a press conference the wealth fund, which on Monday announced it was buying into the National Grid Corp of the Philippines, has not spoken to the Chinese firm but said it would be interested in the stake if it becomes available.

READ: Maharlika Investment Corp buys into national grid operator

China’s State Grid Corp holds a 40% stake in NGCP, which holds a 25-year concession to run the country’s sole power transmission operator since winning the contract in 2007.

—Reporting by Karen Lema; Editing by Martin Petty

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