Hedcor signs RE supply deal with Misamis Occidental co-op

by Lenie Lectura - August 3, 2016

http://www.businessmirror.com.ph/2016/08/03/hedcor-signs-re-supply-deal-with-misamis-occidental-co-op/

HEDCOR Inc., a subsidiary of Aboitiz Power Corp., signed a renewable-energy supply agreement (RESA) contract with Misamis Occidental I Electric Cooperative Inc. (MOELCI-1).

The agreement, signed on July 25, provides Hedcor’s supplying 1 megawatt (MW) to MOELCI-1. The power will be sourced from Hedcor’s 68.8-MW Manolo Fortich run-of-river hydropower plant project.

MOELCI-1, with a peak demand of 10 MW, provides power to the municipalities of Calamba and neighboring areas in Northern Mindanao. This is the third electric cooperative to secure a supply contract with the Manolo Fortich hydroproject, which is under construction in Bukidnon. The project is set for completion in 2017.

“The development of this renewable-energy source is promoting energy efficiency and clean energy, and will definitely boost the economic activity in our region and in the Mindanao region,” MOELCI-1 Board President Rey Roger Villanueva said during the signing ceremony in Dipolog City.

Hedcor owns and operates 22 run-of-river hydropower plants all over the country. Its power plants combine for around 185 MW of clean and renewable energy.

Hedcor Vice President for Mindanao Operations Rolando Pacquiao said that by aggressively amplifying their renewable portfolio, this shows Hedcor’s support of the Philippine National Renewable Energy Program that aims to triple the renewable-energy capacity of the country by 2020.

“With this agreement, we have forged, 1000 kilowatt per hour of clean and renewable energy will be coming into Misamis Occidental and a total of 68.8 MW of clean energy for Mindanao by 2017,” Pacquiao said.

In Mindanao alone, Hedcor operates nine run-of-river hydropower plants with a total capacity of 60 MW.

“We thank MOELCI-1 for trusting us with their power supply so that together, we can participate actively in the growth in your region,” Aboitiz Power Energy Sales First Vice President Rochel Donato Gloria said.

Ruben Bonalos, the general manager of MOELCI-1, said continuing the partnership with AboitizPower, this time for renewable energy, will help their cooperative’s direction in ensuring the quality and reliability and affordability of their electric power supply to their customers.