Nickel Asia’s RE unit seals supply deal with Mabuhay Energy
MANILA, Philippines – A retail electricity company has tapped Emerging Power Inc. (EPI), the renewable energy arm of mining firm Nickel Asia Corp. (NAC), to boost its supply with clean power.
In a statement on Monday, EPI said it had clinched the deal with Mabuhay Energy Corp. (MECO), which has been providing electricity to various companies and establishments, including Megaworld, Sunlife Philippines, Fisher Mall, Metro Plaza, Star City, Federal Land and Bounty Fresh.
MECO has been in the market since 2017, and is considered “one of the fastest-growing” retail electricity suppliers.
READ: Nickel Asia’s RE firm seals P5.175-B loan deal
Under the agreement, the firm said the clean energy would be sourced from EPI’s two solar farms: the 72.128-megawatt peak (MWp) Subic New PV Power Plant and the upcoming 70-MWp Cawag Solar Power Plant (Phase 1).
It did not disclose, however, how much power was covered by their partnership.
“We are honored to have been chosen by MECO as a partner in expanding their business of delivering clean and sustainable energy to their RES customers,” said EPI president and chief executive officer Roy Joseph Fernandez.
“Through our expanding solar portfolio, which includes the Subic and Cawag power plants, we steadfastly aim to contribute to the Philippines’ renewable energy goals, which should help enhance the country’s energy security in the near term,” Fernandez said.
Last month, the renewable energy producer obtained a P5.175-billion loan deal with Rizal Commercial Banking Corp. to finance its 145-MW Cawag solar power plant.
Once fully operational, the facility is expected to provide electricity to at least 90,000 households, as well as reduce greenhouse gas emissions of 200,000 metric tons.
In August 2024, the group said EPI was still on track to reach its 1-gigawatt target by 2028, with more plants slated for commercial operations.
EPI said it was not just focusing on solar, as it is “actively developing and exploring” other clean energy sources, such as geothermal, wind, run-of-the-river hydroelectricity, and battery storage.
