Under the agreement, Power Construction Corporation of China’s subsidiary Shanghai Electric Power Construction will build the 552MW coal-fired power plant in Kauswagan, Lanao Del Norte.
AC Energy president and chief executive John Eric Francia said, "We recognize that Mindanao is in dire need of power and we are keen to provide the needed capacity at very reasonable and affordable terms."
"We are also excited about this new addition to our growing pipeline of power projects. This puts us on track to achieve our goal of developing over 1,000 MW of attributable capacity both in conventional and renewable technologies by 2016," Francia added.
Scheduled to be completed within three years with the first unit operational by early 2017, the plant will feature cutting-edge equipment, including 4 Siemens steam turbines and generators manufactured in Germany.
