Aboitiz unit signs supply deal with Abra electric cooperative | Inquirer Business
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Aboitiz unit signs supply deal with Abra electric cooperative

Agreement expected to benefit 26 municipalities
By: - Reporter / @amyremoINQ
/ 12:37 AM January 09, 2012

Aboitiz Power Corp. has signed an agreement allowing its subsidiary to provide clean and affordable electricity to more than 43,000 customers of an electric cooperative in Abra.

In a statement, APC said its subsidiary AP Renewables Inc. signed last December 26 a five-year power supply agreement with Abra Electric Cooperative Inc. (Abreco), which distributes electricity to 26 municipalities in Abra.

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“We are pleased to partner with Abreco in powering [more than] 43,000 customers in the province of Abra. We are optimistic that we will be able to provide reliable energy that meets their needs, while being environmentally conscious,” said APC chief executive officer Erramon I. Aboitiz.

“Our partnership with APC signifies the commitment of Abreco in building a better future not just for the cooperative, but more importantly, for the province of Abra. Quality service from APC coupled with the desire of Abreco to excel in the field of power distribution will ensure a healthy working relationship,” added Abreco general manager Loreto P. Seares Jr.

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AP Renewables owns and operates the 289-megawatt Tiwi geothermal power plant complex in Albay and the 458.53-MW Makban geothermal power facility in Laguna and Batangas.

It acquired the facility from the government after submitting the highest bid of $447 million for the Tiwi-MakBan geothermal complex in 2008.

AP Renewables signed recently an agreement with state-run National Power Corp. (Napocor) and Power Sector Assets and Liabilities Management Corp. (PSALM) extending its transition supply contract with the government by another year.

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TAGS: Aboitiz Power Corp., Abra, Abreco, AP Renewables, electricity production and distribution, electricity supply deal, Energy, Philippines – Regions
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