 In 1996, KEPCO entered the Philippines power market when it was awarded the contract for the refurbishment and operation of the Malaya thermal power plant.In 1996, KEPCO won the bid to construct the Ilijan gas-fired combined cycle power plant, a 1,200MW build-operate-transfer project.Today, KEPCO operates four power plants in the Philippines, including the Naga Power Plant Complex and the Cebu Circulating Fluidized Bed Combustion Power Plant, while the company's operations account for 12% of the country's installed generation capacity.