Redondo Peninsula Energy, Inc. – a JV formed by Aboitiz Power Corporation, Meralco, and the Taiwan Cogeneration Corporation – has planned financing of $825 million for the construction and development of a coal power plant at Subic in the Philippines. BDO Capital and Investments Corporation, First Metro Investment Corporation, and PNB Capital and Investment Corporation will be providing the financing. The total installed capacity of the plant will be 600 MW. The total cost of the plant is estimated at $1,100 million; it will be funded with 75 per cent debt and 25 per cent equity.