CEBU, Philippines - In anticipation of the projected increase in the demand for power within its franchise area, the Cebu Electric Cooperative III has entered into an agreement with the Toledo Power Company, a subsidiary of Global Business Power Corporation.
The 25-year Electric Power Purchase Agreement with TPC gives CEBECO III an additional 17 megawatts for Toledo City and the towns of Asturias, Balamban, Pinamungajan, and Aloguinsan effective February 26, 2015.
The contract signing ceremony was led by CEBECO III general manager Virgilio C. Fortich, CEBECO III board president Tereso B. Lebumfacil, Fr. Francisco Silva, GBP executive vice president Jaime T. Azurin and GBP vice president for Toledo site operations Engr. Leah G. Diaz.
The demand for power in Western Cebu has been increasing steadily, with the mining and industry sectors as the primary growth drivers, GBPC said in a statement.
To support Western Cebu’s additional power requirement, TPC’s recently inaugurated 82-megawatt expansion project will supply the 17-megawatt electricity needs of CEBECO III.
Meanwhile, 55 megawatts of electricity will be supplied to Carmen Copper Corporation effective December 26, 2014, in order to support its mining expansion projects.
GBPC, a member of the Metrobank Group of Companies, is one of the leading power producers with plant facilities located in Cebu, Iloilo, Aklan, and Oriental Mindoro. (FREEMAN)