As part of its response to the need for stable, reliable and cost-competitive power, Meralco PowerGen Corporation signed a shareholder agreement with Therma Power Inc., a wholly-owned subsidiary of Aboitiz Power Corp. and Taiwan Cogeneration International Corporation, a subsidiary of Taiwan Cogeneration Corporation, in 2011 for majority control of Redondo Peninsula Energy, Inc. (RP Energy).
RP Energy is developing a $1.2Bn 600MW power plant within the Subic Bay Freeport Zone (SBFZ) using circulating-fluidized-bed technology (CFB). This is the technical term for the new generation of environment-friendly coal technology to generate power that meets stringent health, safety and environmental protection standards. CFB technology is considered by the International Energy Agency Clean Coal Centre as the best available, environmentally-sound and flexible power plant technology.
For more information about RP Energy, please click on the link: RP Energy