Alsons unit signs deal with power cooperative
A subsidiary of Alcantara-led Alsons Consolidated Resources Inc., Sarangani Energy Corp. (SEC), has signed a power sales agreement with the South Cotabato I Electric Cooperative Inc. (Socoteco-I).
In a disclosure to the Philippine Stock Exchange, ACR said that under the agreement, SEC would provide the cooperative with 10 megawatts of power from SEC’s 210-MW coal-fired plant in Maasim, Sarangani.
The SEC Sarangani facility is made up of two power plants, each with a capacity of 105MW.
The 10MW allotted for Socoteco-1 will come from the second phase of the SEC plant, which is expected to be operational by 2016.
The full 105MW capacity of the first phase plant has already been contracted. The bulk of the output was sold to another South Cotabato distribution utility— the South Cotabato 2 Electric Cooperative Inc. (Socoteco-II), which will be getting 70MW. Other off-takers for the Phase 1 plant are Agusan Del Norte Electric Cooperative, the Agusan Del Sur Electric Cooperative Inc. and Davao Del Norte Electric Cooperative.
The Phase 1 plant commenced construction in 2012 and is expected to begin operating in 2015.
Socoteco-II serves Koronadal City and seven municipalities in South Cotabato. It covers the entire Province of Sarangani, General Santos City and two South Cotabato municipalities. Aneco covers Butuan City and other areas of Agusan Del Norte. Aselco’s service area covers all 13 municipalities of Agusan Del Sur and Bayugan City. Riza T. Olchondra
