Lucio Co to boost energy investment

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Tycoon Lucio Co, owner of supermarket chain Puregold Price Club Inc. and growing retail firm Cosco Capital, Inc., is eyeing investment opportunities in renewable energy (RE), which could boost his already significant portfolio in the power industry business.

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In a chance interview with reporters in Makati, Co indicated that he is willing to invest in other RE projects if the opportunity arises.

He said he is open to investing in biomass and hydro-power projects.

Early last year, the energy firm owned by Co, Union Energy, tied up with a renewable energy firm to build a mini hydropower plant in Catuiran, Oriental Mindoro. This is considered Co’s corporate debut in the power sector.

Union Energy partnered with Sta. Clara Power Corp. for an eight-megawatt mini-hydropower plant project, which cost the joint venture nearly P2 billion.

Construction started last year, and the plant is expected to be operational by 2016.
Union Energy owns 66 percent of renewable energy company San Jose City I Power Corp.

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