RP Energy prepares for Subic coal plant construction

rp-energy-prepares-for-subic-coal-plant-construction-on-january

The construction of Redondo Peninsula Energy Inc.’s 600 megawatt coal-fired power plant in Subic, Zambales is set to begin in January 2017, an official said on Wednesday.

“I think we break ground mid-January. We’re going to award the EPC very soon,” Aboitiz Power Corp. president Antonio Moraza said, referring to the engineering, construction, and procurement contract.

Commercial operations are scheduled by 2019 or 2020, RP Energy project development manager Joselito Lantin said in previous reports.

Power generated by the project will be covered by power supply agreements with the Manila Electric Co. (225 MW) and Aboitiz Energy Solutions (75 MW).

The company has obtained their certificate of registration for the Subic coal plant from the Board of Investments.

“The registration entitles RPE to duty-free importation of equipment, materials and spares used for the power plant for a period of five years from date of registration. Also income tax holiday for four years from commercial operation,” Lantin said.

The coal plant, according to Moraza, is dependent on the availability of transmission lines and has been delayed a few times due to transmission and right-of-way constraints.

RP Energy is led by the Meralco PowerGen Corp. with other shareholders Aboitiz Power and Taiwan Cogeneration International Corp.

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