Korean Electric Power Corporation (Kepco) and SPC Power Corporation has inked power supply contracts with several electric cooperatives in the Visayas, paving the way for the construction of a new power plant in the region.

These KEPCO-SPC Power supply contracts include supply of

350 million kilowatt-hours per year to Central Negros Electric Cooperative

324 million kilowatt-hours per year to IN2POWER

105 million kilowatt-hours per year to Cebu II Electric Cooperative (Cebeco II)

105 million kilowatt-hours per year to Negros Oriental II Electric Cooperative ( Noreco II )

88 million kilowatt-hours per year to Negros Occidental Electric Cooperative ( Noceco )

61 million kilowatt-hours per year to Cebu I Electric Cooperative (Cebeco I)

61 million kilowatt-hours per year VMC Rural Electric Service Cooperative Inc. (Vresco)

24 million kilowatt-hours per year to Negros Oriental I Electric Cooperative ( Noreco I )

Construction of a 200-megawatt Circulating Fluidized Bed Combustion (CFBC) Boiler Coal-Fired Power Plant began in early 2008.
Estimated to cost around US$450 million, the plant is expected to be completed by May 2011.