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MISSION ENERGY SELLS TO MAGMA POWER INTEREST IN ITS PHILIPPINE GEOTHERMAL PLANT PROJECT

 IRVINE, Calif., Nov. 4 /PRNewswire/ -- Mission Energy Co., an SCEcorp subsidiary, announced today it has sold Magma Power 50 percent of its interest in the proposed 231-MW (216 MW net) geothermal power plant at Malitbog on the island of Leyte in the Philippines.
 Edward R. Muller, president and chief executive officer of Mission Energy, said, "We are enthusiastic about developing private power projects in the Philippines and remain committed to doing business there with forward-thinking companies like Philippine National Oil Co. -- Energy Development Corp. Magma, however, made us an offer for our portion of the Leyte project that we found attractive. We will continue to pursue other projects in the Philippines including the cogeneration project on the island of Luzon which Mission Energy is pursuing jointly with Texaco Cogeneration and Power Co. and Caltex (Philippines) Inc."
 Terms of the transaction were not disclosed.
 Mission Energy Co. is a non-utility independent power producer. It is subsidiary of SCEcorp. SCEcorp is also the holding company for Southern California Edison, the regulated electric utility serving Southern California.
 -0- 11/4/93
 /CONTACT: Edward R. Muller of Mission Energy, 818-302-1212/


CO: Mission Energy Co.; Magma Power ST: California IN: OIL SU: TNM

NY-LS -- LA042 -- 1039 11/04/93 21:36 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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