Aboitiz Power has plans to build a 300MW coal-fired power plant in Toledo City, Cebu, Philippines as part of a PHP190bn ($4bn) investment plan.
The plant is expected to increase the company’s attributable capacity by 50% to 3,500MW in five years.
Aboitiz Power CEO Erramon Aboitiz was quoted bv Inquirer Business as saying that the Cebu facility remained under study but should it proceed according to schedule, the power plant would be operational by the end of 2016.
The company is also building a 300MW facility in Mindanao, which is expected to be operational by the first quarter of 2015.
In addition, Aboitiz expects to start building two additional power facilities, a 600MW plant in Subic and another 400MW power plant in Pagbilao, Quezon.
"We envision that our growth will come from new projects that will be needed to supply the expected increase in demand brought about by strong economic activity," Aboitiz added.