A consortium that includes China's main power transmitter and distributor will take over the operation of the Philippine electricity grid from Thursday, an executive at the Chinese company said.
"We will take over operations of the Philippine power network from midnight," Cheng Mengrong, deputy director-general of State Grid Corporation of China, told reporters.
State Grid Corporation of China is a member of the National Grid Corporation of the Philippines (NGCP), a consortium which includes two Philippine companies, Monte Oro Grid Resources Corp. and Calaca High Power Corp.
The consortium placed a winning bid for TransCo, the Philippine concession for the state grid, at an auction in December 2007.
"NGCP ensured that it would be more than able to operate, rehabilitate and expand TransCo's power lines and other facilities," the NGCP said on its website.
State Grid Corporation of China covers 88 percent of the service area in China.
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