by Myrna Velasco October
15, 2016
Lopez-led Energy
Development Corporation (EDC) has cemented new power supply agreements (PSAs)
with three electric cooperatives in Northern Luzon, thus, widening the base of
its bilaterally-committed capacity by additional 53 megawatts.
The counterparties in
the EDC power supply pacts have been Ilocos Norte Electric Cooperative, Inc.
(INEC); Mountain Province Electric Cooperative (MOPRECO); and Kalinga-Apayao
Electric Cooperative (KAELCO). The deals call for the supply of aggregate 53MW
to the electric cooperatives from December 26, 2016 to December 25, 2018.
According to EDC
President and Chief Operating Officer Richard B. Tantoco, the PSAs would be
able to “support the region’s goal of economic growth and competitiveness.”
EDC is operating the
150MW Burgos wind power facility in Ilocos Norte with an integrated solar power
farm. The Lopez firm takes pride in providing pure renewable energy to its
customers – not just wind-based generated electricity but also those from hydro
and geothermal power capacities. By adhering to such business model, Tantoco
reckoned that EDC “is working hard to move the renewable energy agenda
forward.”
And with their latest
batch of off-takers, the EDC executive just enthused that they are appreciative
of the fact “that more and more customers are giving RE a chance and share our
goal of building a lower carbon world through clean energy.” On the part of the
electric cooperatives, INEC Board President Reynaldo Lazo noted that 236,000
consumers in their franchise areas will have reliable power; that could also
spur economic growth and competitiveness in the region.
EDC’s portfolio of
renewable energy capacities hover at 1,169MW – stretching from the company’s
geothermal assets in Leyte and Mt. Apo; as well as its wind farm and hydropower
facility in Nueva Ecija.
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