(The Philippine Star) | Updated July 13, 2013 - 12:00am
MANILA, Philippines - Renewable energy firm Sunwest Water and Electric Co. Inc. II (Suweco2) has signed a 20-year power supply agreement with the province of Antique.
Under the agreement with Antique Electric Cooperative Inc. (Anteco), Suweco2 shall supply all the generated power of its Villasiga1 and Guiamon-San Ramon hydropower plants in the towns of Bugasong and Laua-an in Antique.
The plants, once operational, would augment the increasing power demand of the franchise area of Anteco with the right to priority dispatch.
In an interview with reporters, Anteco general manager Ludovico Lim said the signing of the power supply agreement with Suweco2 is a response to their need for adequate, reliable and cleaner supply of power for distribution to their consumers in their service areas at reasonable electricity rates in the long term.
“The Antiqueños look forward to the solution on their perennial frequent power interruptions due to power shortage” Anteco president Vicente Painaga Jr. said.
The Villasiga hydropower project is an eight-megawatt plant, which would be the first hydropower plant in Panay Island. Partly financed by Banco De Oro (BDO), the project has a total investment cost of about P1.6 billion, officials said.
The plant, set to be operational in December 2013 or early 2014, is a run-of-river renewable energy type of power development that will optimize the water from the Paliuan River. It has the potential to generate 31,479,070 kilowatt-hours of electricity annually.
The plant hopes to contribute to efforts to improve the country’s current energy supply from renewable energy to 50 percent from the current 20 percent in the next 15 years.
Suweco2 is a subsidiary of Suweco, which is aiming to become a major supplier of clean renewable energy particularly in some rural areas not serviced by the national grid.
At present, Suweco has a project portfolio of 59 projects at different stages of development, which are expected to generate a total capacity of around 280 megawatts in the next 10 years.
Suweco is part of the Sunwest Group of Companies owned by Legazpi-based businessman Elizaldy Co. source
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