Chinese involvement in grid operator pure business: NGCP

News Sourced

It’s just about investments. This was the explanation of National Grid Corporation of the Philippines (NGCP) president and chief executive officer (CEO) Anthony Almeda regarding the involvement of Chinese investors in the country’s grid operator.

Some legislators said the State Grid Corporation of China has 40 percent stake in NGCP and they claimed this gives China the possibility to remotely tinker with the national grid.

In a briefing Wednesday, Almeda said the Chinese involvement in NGCP is simply about business.

“They’ve always been our partner in the past 10 years and they’re only (on the) management,” he said.

Almeda assured the public that “our technical people are always working on us, all our Filipino technical people.”

“For the Chinese, they are only (serving) as directors of the company and only for their investments,” he said.

Almeda said the Chinese investments in NGCP are not different with some Philippine companies’ decision to invest overseas.

“They’re here now and for them, it’s just a board seat,” he added.

Asked for his comment on the resolution filed in the House of Representative to investigate China’s stake in NGCP, Almeda said they are “always open” for this kind of inquiries.

Last Monday, Energy Secretary Alfonso Cusi said there was a need to immediately assess NGCP’s system vis-à-vis the involvement of Chinese investors, adding it is not impossible now to remotely do something from anywhere around the world.

He said the only way to address questions on the security of NGCP’s system from external forces is for state experts to audit it and have the oversight function on the whole system. PNA.GOV.PH