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The Corporation yesterday approved details of an upcoming bond able to refinance the Medical Area Total energy Plant (MATEP) built between 1974 and 1979 to supply water and electricity to Harvard searching hospitals.

The bond issue will probably be floated in June or July to raise approximately $300 million, Financial Vice President Thomas O'Brien said. The Corporation's endorsement of these figures represents the last major step before the sale takes place, he added. Harvard received approval for the issue from a state agency last month.

The total of $300 million, which includes $12 million for a genetics laboratory at Brigham and Women's Hospital, will make the bond sale the largest ever by a university. It brings the price tag for MATEP--which still must pass a series of hearings before it generates electricity--to over twelve times the cost budgeted for it in 1972.