James A. Loyola
Published: April 29, 2013
Trans-Asia Oil and Energy Development Corporation (EDC) have signed a two-year contract to buy 15 megawatts of electricity from the 70MW Bakun Hydro Power Plant in Alilem, Ilocos Sur.
In a disclosure to the Philippine Stock Exchange, Trans-Asia said it signed the contract with Vivant-Sta. Clara Northern Renewables Corporation, the independent power producer administrator of the hydroelectric plant.
Vivant Corporation, which owns 46 percent of Northern Renewables through wholly-owned subsidiary Vivant Energy Corporation, also disclosed to the PSE that it also signed a similar contract to purchase generated electricity from Bakun with Energy Development Corporation.
The deal will allow Trans-Asia and EDC to beef up its portfolio of electricity supply from coal, diesel and geothermal power facilities in anticipation of open access and retail competition in the power sector by June.
Under this upcoming regulatory regime in the sector, electricity suppliers may directly negotiate with consumers for their power requirements.
Northern Renewables is a consortium composed of Vivant, ICS Renewables Inc. and Sta. Clara Power Corporation. It took control of state-owned National Power Corporation’s privatized contracted output of the Bakun plant. source
In a disclosure to the Philippine Stock Exchange, Trans-Asia said it signed the contract with Vivant-Sta. Clara Northern Renewables Corporation, the independent power producer administrator of the hydroelectric plant.
Vivant Corporation, which owns 46 percent of Northern Renewables through wholly-owned subsidiary Vivant Energy Corporation, also disclosed to the PSE that it also signed a similar contract to purchase generated electricity from Bakun with Energy Development Corporation.
The deal will allow Trans-Asia and EDC to beef up its portfolio of electricity supply from coal, diesel and geothermal power facilities in anticipation of open access and retail competition in the power sector by June.
Under this upcoming regulatory regime in the sector, electricity suppliers may directly negotiate with consumers for their power requirements.
Northern Renewables is a consortium composed of Vivant, ICS Renewables Inc. and Sta. Clara Power Corporation. It took control of state-owned National Power Corporation’s privatized contracted output of the Bakun plant. source
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