The Ilijan combined cycle power station in Manila, Philippines has started commercial operation. It was built by Korea Electric Power Corp and partners Mitsubishi and Mirant Corp using a build-operate-transfer scheme under which it will run the plant for 20 years before handing it over to the Philippines National Power Corp. The plant is expected to earn a revenue of $2.5 billion; the Philippines government will provide free natural gas to fuel the plant and donated the site. Electricity will be sold on a take-or-pay power purchase contract.
