About RP Energy

Redondo Peninsula Energy, Incorporated (RP Energy) was founded in 2007 and is based within the Subic Bay Freeport Zone. It is a joint-venture company formed by Meralco PowerGen Corporation, Therma Power, Incorporated and Taiwan Cogeneration International Corporation.

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RP Energy
Redondo Peninsula Energy Incorporated

Frequently Asked
Questions

RP ENERGY FAQS

  • Who are the sponsors of RP Energy?

    MeralcoPowerGen (MPG) is a 100% owned subsidiary of Meralco, the largest distribution utility in the Philippines. MPG was established to develop power plants for Meralco.

    Therma Power, Inc. is a wholly owned subsidiary of Aboitiz Power Corporation, a vertically integrated power utility company in the Philippines.

    Taiwan Cogeneration International Corporation is one of the leading power utility companies in Taiwan.

  • What is the total capacity of the Project?

    600MW configured as 2 units of 300MW each. The unit size was modified from 150MW units to 300MW to take advantage of increased efficiency of a larger unit. The unit size was selected for optimal sizing and reliability taking into consideration the Luzon demand.

  • When will the Project start operations/generating electricity?

    Target completion of the first 300MW is the 4th quarter of 2014 while the second 300MW will be completed 6-9 months after. It is timed to match Luzon’s expected yearly demand growth and address the country’s need for increased capacity.

  • Why was the Project delayed?

    The Project was postponed in 2008 after the financial crisis dampened electricity demand. With the Philippines’ economic recovery and electricity demand increase, RP Energy will now push through with double its original installed capacity.

  • What is the status of operations?

    Site clearing is ongoing in preparation for commencement of construction in the first half of 2012. RP Energy is in discussions with banks for debt financing, the NGCP for interconnection, and equipment suppliers and EPC contractors for construction works.

    RP Energy is targeting to obtain financial closure in the 1st quarter of 2012 and construction will commence shortly right after.

  • Who will take the lead in RP Energy?

    MPG will own majority shares in RP Energy while Aboitiz Power and TCC will be diluted equally and have a combined holding of less than 50 % (note: lifted from official disclosure and press release). The sponsors will each assign personnel in the steering committee to manage the Project.