MANILA, Philippines – AP Renewables Inc. (APRI), the renewable energy development unit of Aboitiz Power Corp. (APC), has signed a long-term supply agreement with Camarines Norte Electric Cooperative Inc. (Canoreco).
The 10-year power supply contract will provide stable electricity supply to the province.
APRI harnesses Cleanergy, APC’s brand for clean and renewable energy from its 467-megawatt geothermal power plants in Tiwi, Albay and Makiling-Banahaw area in Laguna.
Through the deal, Canoreco can now meet its customers’ needs by providing an average of 18-20 MW of Cleanergy, while leaving a lighter impact on the environment.
The electric cooperative supplies power to Camarines Norte’s capital city Daet and 10 municipalities: Mercedes, Labo, Vinzons, Sta. Elena, Basud, Talisay, San Vicente, Capalonga, Paracale and Panganiban.
Through this first of joint undertakings, Canoreco will be able to benchmark and learn of the best practices from other Aboitiz-owned utilities. This, in turn, will redound to a more efficient operation.
“APRI is delighted to partner with Canoreco in providing it the power it needs. We are committed not only to provide electricity but to see the growth of our client-partners. With the current management working with APC, I believe that Canoreco will become even more efficient over the next 10 years,” said Miguel Aboitiz, APRI senior vice president, said.
After a competitive bidding process among four proponent generators, APRI was awarded the power supply agreement and is set to commence delivery to Canoreco on Dec. 26, 2011.
“Canoreco is very pleased that in partnership with APRI, it will have a stable and secure power supply for the next 10 years. We look forward to a healthy and vibrant working relationship with APRI,” he said.
APC is the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services.