AboitizPower to supply renewable energy anew to Nueva Ecija towns
A subsidiary of Aboitiz Power Corp. has renewed its power supply agreement with a Nueva Ecija-based electric cooperative for 41 megawatts (MW) of clean energy to 10 municipalities in the area for another five years, the firm said on Friday.
In a press release, AboitizPower said that its unit AP Renewables, Inc. closed its partnership with Nueva Ecija II Electric Cooperative Area 1 (Neeco II Area 1) during a ceremonial signing on Dec. 16.
For five years beginning December 2020, AP Renewables would supply its brand of clean and renewable energy or “Cleanergy” to 10 municipalities under the Neeco II Area 1’s franchise.
“This partnership with AboitizPower is definitely part of a continuing commitment to power the needs of the residents and businesses of the municipalities we serve while minimizing our carbon footprint,” Neeco II Area 1 Board President Reynaldo V. Villanueva was quoted as saying.
In March, Neeco II Area 1 opened a competitive selection process for its energy requirements. Out of the four suppliers that participated in the bidding, AP Renewables was declared the chosen power provider.
Juan Alejandro A. Aboitiz, first vice president for commercial operations, expressed his gratitude that AP Renewables was chosen to support the energy needs of Neeco II Area 1.
“This is such an energizing way to end the year, and truly a moment to be proud of as we accelerate our group-wide efforts towards integrating environmental stewardship plus pursuing partnerships for long-term growth,” Mr. Aboitiz said.
Three years ago, Neeco II inked a 33-MW power supply deal with AboitizPower. The deal covered 80% of the peak demand of the electric cooperative’s service area.
AboitizPower produces “Cleanergy” from its various hydroelectric, geothermal, and solar power generation facilities. The company looks to significantly grow its Cleanergy portfolio. By 2030, renewables are targeted to account for 65% of the listed firm’s new capacities.
AboitizPower shares on Friday were unchanged at P26 apiece. — Angelica Y. Yang