KEPCO-SPC Power Corp. (KSPC), a joint venture between Korea Electric Power Corp. and SPC Power Corp., is expected to complete its 200-megawatt (MW) coal-fired power plant in Naga, Cebu next year.

According to Kepco Philippines chief finance officer JJ Kim, the joint venture has already completed over 91 percent of the Naga coal facility as of June 2010.

Kim said that the joint venture could begin operating the first 100-MW unit of the coal facility by February 2011. The second 100-MW unit may go online next May.

Completion of the facility will help ease the power supply shortfall in the Visayas. The region is now suffering from rotating brownouts. The National Grid Corp. of the Philippines said that, as of yesterday, the Visayas grid continued to post a supply deficit of 240 MW. Although there are no immediate plans to expand the coal-fired power plant, the company is keen on reviewing power demand forecasts to see whether it will be necessary to expand the facility, Kim said.

Last February, SPC Power said the joint venture had signed more financing agreements for the $491-million coal plant.

Doosan Heavy Industries of South Korea is currently undertaking the engineering, procurement and construction of the plant.