AboitizPower boosts stable power supply in the countryWednesday, August 4, 2010
AboitizPower Corp., through subsidiary Redondo Peninsula Energy, Inc. (RP Energy), has announced its decision to pursue investment in constructing a Greenfield project, a 300-MW coal-fired power plant in the Subic Bay Freeport Zone. RP Energy is a joint venture between AboitizPower and Taiwan Cogeneration Corp.
Called the “Subic Coal Project,” the plant will run on cogeneration technology, a form of energy recycling where it will generate both beneficial heat and electricity at the same time.
AboitizPower believes that the current economic climate makes the Subic Coal Project more feasible.
“We feel the timing is right to pursue the construction of this plant to address the growing power needs of Luzon,” says AboitizPower President and CEO Erramon Aboitiz.
AboitizPower targets the completion of the facility’s first unit in December 2012, and the second unit in April 2013.
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