Published on Sunday, 28 April 2013 17:30 Written by Lenie Lectura / Reporter
TRANS-ASIA Oil and Development Corp. and Vivant Corp.-Sta. Clara Northern Renewables Corp. signed last week a two-year power supply agreement.
Under the deal, Trans-Asia will purchase a portion of the 70-megawatt (MW) output of Bakun hydroelectric power plant in Alilem, Ilocos Sur.
“Northern Renewables signed a contract to purchase generated electricity with Trans-Asia for the purchase of 15 MW of electricity from the Bakun hydropower plant for a term of two years,” said Vivant Chief Information Officer Jess Anthonty Garcia.
Northern Renewables is the independent power producer of the Bakun facility which is currently the largest run-of-river hydropower plant in the Philippines.
Vivant Corp., through its wholly owned subsidiary Vivant Energy Corp., has a 46-percent stake in Northern Renewables. The company has substantial equity in the Visayan Electric Co. Inc., the second largest utility company in the Philippines, and holds a stake in Cebu Private Power Corp. which owns and operates one of the largest diesel power plants in Cebu. source
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