Aboitiz Power’s subsidiary Therma Visayas has signed the engineering, procurement and construction contract with Hyundai and local company Galing Power Energy.
The 300MW baseload power plant is expected to start operations by the third quarter of 2017.
The power plant will feature two 170MW steam turbines and two circulating fluidized bed (CFB) boilers.
Aboitiz Power chief executive officer Erramon Aboitiz said the project will ensure Cebuanos that it will have the required priced baseload power supply in the island by 2017,
"This is a very important project for the Visayas grid," Aboitiz added.
"We look forward to working closely on this project with our EPC contractor and the local community to ensure we deliver a quality power plant on time."
TVI will issue a limited notice to go ahead for the design engineering and detailed physical data collection in preparation for the construction of the power plant.
