Redondo Peninsula Energy Inc. signed a construction contract with Azul Torre Construction Inc. and a supply contract with Doosan Heavy Industries & Construction Co. Ltd. of Korea for the construction of the P63-billion, 600-megawatt coal-fired power plant on Redondo Peninsula, Subic Bay.
Manila Electric Co. and Aboitiz Power Corp., the major shareholders of Redondo Peninsula, issued separate disclosures to the stock exchange about the construction contracts.
Therma Power Inc., a wholly-owned subsidiary of Aboitiz Power and Taiwan Cogeneration International Corp. each own a 25-percent equity interest in RP Energy, while Meralco PowerGen Corp., a wholly-owned subsidiary of Meralco, holds 47 percent.
“Both are lead contractors. Doosan will supply all the plant equipment while Azul Torre will install these equipment at the site and construct the plant,” Meralco senior vice president Angelito Lantin said.
Aboitiz Power president Antonio Moraza last week said RP Energy planned to start construction of the long-delayed Subic coal plant by January. The project is expected to go online by mid 2020. Alena Mae S. Flores