Published
By Myrna M. Velasco
The retail power arm of
Global Business Power Corporation (GBP) has recently inked a power supply,
agreement with Global Estate Resort Inc. (GERI) for the provision of the
latter’s electricity needs within the ambit of retail competition and open
access policy in the industry.
GBP’s power retailing
unit Global Energy Supply Corporation (GESC) had underwritten the deal for the
supply of 4.0-megawatt capacity to GERI’s 140-hectare township development in
Boracay Newcoast in the famed island-paradise of the country.
That new power retailing customer of GBP is a subsidiary of Megaworld
Corporation of Andrew Tan, who is in the country’s list of top billionaires.
GBP President Jaime T.
Azurin emphasized that “our partnership with GERI comes at such an exciting
time, as this retail supply agreement harnesses the synergy between the energy
and real estate sectors,” which in turn will be supporting the targeted dynamic
growth of the tourism industry.
Boracay island in
particular is still considerably power supply-challenged, that having a dedicated
supplier could be more of a plus point for tourism facilities at this point in
time.
And as indicated by
GBP, tourism continues to be one of the key economic growth drivers for the
Philippines – accounting for 12.7 percent of the gross domestic product (GDP),
as culled from last year’s data of the Philippine Statistics Authority.
According to Global Power, its client GERI is currently advancing its first
master-planned community in Boracay island that shall consist of five
districts, namely: The Newcoast Village, Oceanway condominiums, Savoy, Belmont
and Chancellor Hotels, Boracay Town Center and Newcoast station.
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