December 21, 2017
AC ENERGY Holdings,
Inc. has forged a power supply agreement with retail electricity supplier
Citicore Energy Solutions, Inc. (CESI), the energy development unit of Ayala
Corp. said.
In a statement, AC
Energy quoted CESI President Manolo T. Candelaria as saying the partnership
would revitalize the power generation company’s portfolio ahead of the
implementation of rules governing renewable portfolio standards (RPS).
CESI is
a unit of Citicore Power, Inc., a renewable energy company that launched in
February last year a 25-megawatt (MW) solar plant in Silay, Negros Occidental.
Citicore Power is looking at solar, wind, hydro, and biomass projects in the
Philippines and Asia.
“This will be a
synergistic partnership between AC Energy and Citicore Power as we both share
the same mission to employ excellence and technological innovation while
preserving the environment through the use of clean and sustainable energy,”
Mr. Candelaria said.
The RPS rules, which
policy makers expect to implement at the start of 2018, require power
distributors to source a portion of their requirement from renewable energy.
The Energy department is getting the comments from industry participants before
issuing a circular.
“We hope to explore
more renewable energy partnerships of this kind moving forward,” Mr. Candelaria
said.
The two
did not disclose the power capacity involved in the power supply deal.
AC Energy is a
subsidiary of Ayala Corp. with investments in renewable energy and conventional
power plants. — Victor V. Saulon
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