Flying V to bid for Napocor’s small gensets

The Flying V group will bid for the small generating assets of the National Power Corp. (Napocor), a ranking company official said.

“We are looking at power plants in SPUG (small power utilities group) areas of Napocor,” Flying V chairman and president Ramon Villavicencio said.

Villavicencio said they are currently identifying which areas they would go into.

“At present, we are trying to assess the prospects of some areas where we can invest in the small island grids of Napocor,” he said.

According to the Flying V executive, they consider to diversify in the power business as part of the company’s strategic plan for the near to medium-term.

“We would like to be able to expand our business and power is one of the areas we are exploring at the moment,” he said.

The possible investment to the power sector has already been floated by Filpride Energy Corp., an affiliate of Flying V, a few months back.

Since Filpride is one of the fuel suppliers of power producers, particularly the SPUG of Napocor, it is likely to join in the privatization of the SPUG.

A couple of years ago, the Department of Energy started selling 14 Napocor-SPUG areas to new power players.

The privatization of the said areas would ensure reliable and efficient power to far flung areas.

For the past years, Filpride has gained reputation and garnered the trust and confidence of major industrial companies and became one of the leading distributors/suppliers of fuel and lubricating oil to a number of industries.