By Lenie Lectura - May 23, 2019
AP Renewables Inc. (Apri) and MORE
Electric and Power Corp. (MORE Power) on Wednesday signed an emergency
power-supply deal.
Under the negotiated deal, Apri will
supply MORE Power 10 megawatts for one year, with an option to add 5 MW.
Apri will source power from its Tiwi
and MakBan geothermal power plants, located in Albay and the provinces of
Laguna and Batangas, respectively. Under the law, MORE Power is allowed to
access emergency power supply through negotiated procurement, provided this
will only be for a period of one year, and the rates must not be higher than
the latest Energy Regulatory Commission (ERC)-approved generation tariff for
the same or similar technologies in the area.
The agreement will take effect once
MORE begins its operations.
In February, President Duterte
signed a law granting MORE Power a 25-year power-distribution franchise in
Iloilo City.
“Our partnership with AP Renewables
Inc. is a testament to MORE Power’s corporate direction to go beyond and above
compliance with what is required in the Renewable Energy Act by advocating
renewable energy and eventually increasing its power supply from renewable
sources,” said Roel Z. Castro, MORE Power president.
Castro and Apri President Alexander
B. Coo signed the interim power-supply agreement.
“Geothermal power is definitely
unique because it is renewable energy, yet it can be baseloaded—meaning, it
delivers power 24/7. For a growing metropolis like Iloilo City, this makes
perfect sense. We are definitely excited to be partners with MORE Power and
even more excited to be part of the growth of Iloilo City,” Coo said.
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