Redondo Peninsula Energy Inc. (RP Energy) has sealed construction and supply contracts with a local company and a Korean firm to build its 2×300-megawatt (MW) coal-fired power plant in Subic, Zambales.

RP Energy signed a construction contract with Azul Torre Construction Inc. and a supply contract with Korean firm Doosan Heavy Industries & Construction Co. Ltd., Aboitiz Power Corp. disclosed to the Philippine Stock Exchange yesterday.

“The power plant is projected to go online by mid-2020,” it said.

RP Energy is a consortium composed of Meralco Powergen Corp. (47 percent), AboitizPower unit Therma Power Inc. (25 percent) and Taiwan Cogeneration International Corp. (25 percent).

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