ByLenie Lectura - November 26, 2019
THE retail electricity arm of Global
Business Power Corp. (GBPC) will supply power to Global Estate-Resorts,
Inc.’s (Geri) 140-hectare township in Boracay Island, the
Boracay Newcoast.
Global Energy Supply Corp. (GESC)
signed a power-supply agreement with Geri under the Energy Regulatory
Commission’s Retail Competition and Open Access (RCOA) scheme.
Under the agreement, GBPC will
supply 4 megawatts (MW) of electricity.
“Our partnership with Geri comes at
such an exciting time, as this retail supply agreement harnesses the synergy
between the energy and real-estate sectors and is well-positioned to tap into
the country’s dynamic tourism sector,” said GBPC President Jaime T.
Azurin.
Data from the Philippine Statistics
Authority (PSA) show that tourism continues to be a key economic growth driver,
accounting for 12.7 percent of the Philippines’s gross domestic product (GDP)
in 2018. Tourist arrivals have also jumped 14 percent year-on-year for the
first nine months of 2019.
The Department of Tourism has cited
the reopening of Boracay Island, as a contributor in the sector’s strong momentum.
A subsidiary of Megaworld, Geri is currently developing its first
master-planned community in the island, to consist of five districts—Newcoast
Village, Oceanway Condominiums, Savoy, Belmont and Chancellor Hotels, Boracay
Town Center, and Newcoast Station.
“We are proud to share with Geri the
same passion for nation-building, as this partnership is seen to further boost
the tourism sector,” Azurin added.
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