Three energy companies signed a memorandum of agreement to put up a US$ 1.28 billion 600-megawatt (MW) coal power plant in Subic, Friday.
Meralco, Aboitiz Power and Taiwan Cogen signed the agreement to build the plant in Redondo inside Subic Bay Freeport zone.
Erramon Aboitiz said that the project aims to generate competitive priced power with least possible adverse effects on the environment.
He added that the project would become the source of competitive priced baseload power for Subic Bay Freeport and for the entire Luzon grid.
Aboitiz said the consortium has opted to use Circulating Fluidized Bed Boilers that remove sulfur oxide and control the burning temperature of coal to prevent formation of nitrous oxides that lower air emissions.
First phase of the project will be completed in 2014 while the second and final phase will be finished in 2016. (Anthony Bayarong, Manila Times)
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