July 3, 2012. Aboitiz Power Corp. (APC) has entered into $546 million worth of contracts with local and foreign contractors for the construction of its planned 300-megawatt coal-fired power plant in Davao. APC said the contracts signed by its wholly owned subsidiary Therma South Inc. were for the construction, supply and coordination concerns relating to the Davao coal facility, which will be put up in Barangay (village) Binugao, Toril district, Davao City; and in Barangay Inayawan, Sta. Cruz, Davao del Sur.