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FDC unit, Apex ink power supply deal

/ 05:14 AM January 10, 2019

One of the largest power generators in Mindanao has sealed a deal to supply electricity to a major Compostela Valley-based mining operation for the next five years, renewing a partnership that began two years ago.

In a statement, the FDC Misamis Power Corp. of the Gotianun group said it had signed an agreement with publicly listed Apex Mining Corp. to supply the latter’s mining operations in one of the island’s richest mine sites.

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Under the contract, FDC Misamis will provide Apex Mining 4 megawatts of power in the first two years or from 2019 to 2020, and up to 5 MW from 2021 to 2023.

FDC Misamis is a subsidiary of FDC Utilities Inc., the power arm of conglomerate Filinvest Development Corp. It operates a 3 x 135-MW circulating fluidized bed coal thermal plant in Villanueva, Misamis Oriental.

The contract renewal means FDC Misamis will remain the exclusive power supplier of Apexin, its processing plant at its mine site at Masara, Maco, Compostela Valley.

FDC Misamis—one of Mindanao’s power producers—has been Apex Mining’s power provider. It started commercial operations in 2016 under a two-year 3-MW power pact that ended in December 2018.

FDC Misamis president and CEO Juan Eugenio Roxas said the new contract with Apex would be a continuation of the strong partnership between the two firms. —DAXIM L. LUCAS

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TAGS: APEX Mining Corp., electricity, FDC Misamis Power Corp., power supply
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