Semirara through its wholly-owned subsidiary Southwest Luzon Power Generation is constructing the first phase of the Calaca plant.
The second phase work is expected to begin in the third quarter of 2013 and will involve building two 150MW units at the plant, while work on the second phase is expected to be completed by 2015.
Funding for the project is expected to come from 70% debt and 30% equity.
Semirara Mining vice-chairman and chief executive office Isidro A. Consunji said, "We might conduct a rights offering to do the phase two (expansion)."
