Napocor needs P10-B loan for off-grid plants’ fuel
MANILA -National Power Corp. (Napocor) will be needing another P10 billion in loans to ensure that its Small Power Utilities Group (SPUG) plants have enough diesel fuel to provide electricity in off-grid areas, according to its top official.
Fernando Roxas, president of Napocor, told reporters that his office had already applied for the Monetary Board’s (MB) approval for the loan it sought from Land Bank of the Philippines to purchase fuel this year.
He added that they were targeting to get the MB’s nod by August or September.
This is the company’s second such loan this year.
In January, Napocor—a government-owned and -controlled corporation that generates power for off…
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