ABOITIZ Power Corp. (AboitizPower) subsidiary Therma Mobile, Inc. has sold two bunker C-fired power barges to Razon-led MORE Electric and Power Corp. (MORE Power) for an undisclosed amount.
The acquisition was part of MORE Power’s efforts to provide additional energy solutions for the Visayas grid, AboitizPower said in a disclosure.
The sale and transfer of operational control of the Mobile 4 and Mobile 6 power barges, both located at the Navotas Fishport Complex in Navotas City, took effect on Oct. 2.
The power barges had been mothballed since February 2025 on orders of the Department of Energy and Therma Mobile and MORE Power were closely coordinating the transfer to comply with grid and regulatory standards.
“Notices regarding the transaction have been sent to the appropriate offices and entities,” AboitizPower said.
AboitizPower said that Therma Mobile’s generation activities would continue through its two other oil-fired power barges, TMO Mobile 3 and Mobile 5.
Therma Mobile, Inc. is a direct subsidiary of Therma Power, Inc., AboitizPower’s holding company for its thermal energy investments.
AboitizPower shares on Monday added P0.95, or 2.09 percent, to P46.50 each.
