TOKYO -- Marubeni will take a 20% stake in a 270,000-kilowatt coal-fired power plant in the Philippines province of Batangas, and is looking to make other investments in power plants there.
The Japanese trading company will spend roughly 10 billion yen ($85.7 million) to acquire 20% of the shares in the plant from local company Phinma Energy and another concern sometime in December.
