Listed PHINMA Energy Corp. said its board has approved the filing of a case against the Power Sector Assets and Liabilities Management (PSALM) Corp. to stop it from terminating an agreement on naming independent power producer administrators (IPPAs) for the Unified Leyte Geothermal Power Plant.

PHINMA Energy told the Philippine Stock Exchange (PSE) on Monday its board of directors approved the filing of a case against PSALM to restrain the termination of the Administration Agreement for appointing IPPAs for the 40-megawatt strips of energy from the Tonongan-based geothermal power facilities on grounds of administrator’s default.

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