GBP to supply power needs of GERI township in Boracay

MANILA, Philippines — Pangilinan-led Global Business Power Corp. (GBP) has secured a deal to provide the electricity needs of Global Estate-Resorts Inc. (GERI) in its township in Boracay.

In a statement, GBP said its retail energy arm . (GESC) signed a power supply agreement with GERI under the Energy Regulatory Commission’s retail competition and open access (RCOA) scheme.

Under the agreement, GBP will supply four megawatts (MW) of power to GERI’s 140-hectare township in Boracay Island.

“Our partnership with GERI comes at such an exciting time, as this retail supply agreement harnesses the synergy between the energy and real estate sectors and is well-positioned to tap into the country’s dynamic tourism sector,” GBP president Jaime Azurin said.

Based on data from the Philippine Statistics Authority, tourism continues to be a key economic growth driver, accounting for 12.7 percent of the Philippines’ gross domestic product in 2018.

Meanwhile, tourist arrivals jumped 14 percent year-on-year as of the end of September.

A subsidiary of Andrew Tan-led Megaworld Corp., GERI is currently developing its first master-planned community in the island, which will consist of five districts, namely Newcoast Village, Oceanway Condominiums, Savoy, Belmont and Chancellor Hotels, Boracay Town Center, and Newcoast Station.

“We are proud to share with GERI the same passion for nation-building, as this partnership is seen to further boost the tourism sector,” Azurin said as he highlighted GBP’s commitment to strengthen its service offerings to customers as it seeks to become a total sustainable energy solutions provider.

RCOA is a provision under the Electric Power Industry Reform Act (EPIRA) that allows contestable customers, or those whose peak demand fall within the threshold level of contestability, to freely choose their electricity supplier.