Tiwi-MakBan turnover

President Gloria Macapagal-Arroyo, who was the guest of honor at the recent turnover ceremony for the 289-megawatt (MW) Tiwi and 458.53-MW MakBan geothermal power plants, displays the ceremonial check of PhP8.286 billion representing the upfront payment of new owner AP Renewables Inc. for the two facilities. With President Arroyo are, from left: AP Renewables President and CEO Austin D. Herrick, AP Renewables Director Luis Miguel O. Aboitiz, PSALM President and CEO Jose C. Ibazeta, Finance Secretary Gary B. Teves, and Energy Secretary Angelo T. Reyes.