US based-AES Corporation is planning to sell its 51 per cent controlling stake in the Masinloc power plant. Reportedly, AES is presently in talks with the advisers to gauge interest in its entire 51 perc ent interest in the 630 MW coal-fired power plant. Earlier in 2014, AES sold its 41 per cent stake in the power plant to Thailand’s Electricity Generating Pcl for $453 million. The remaining 8 per cent stake is being owned by the World Bank’s International Finance Corporation. The Masinloc power plant, which has been in operation since 1998, was bought by AES for $930 million in 2008. It is located about 250 km (155 miles) northwest of Manila in Zambales province.
