WALTER MART, ABOITIZPOWER INK POWER SUPPLY DEAL

Walter Mart signed up for 4.7megawatt (MW) electricity supply contract with AboitizPower to support the planned expansion of its chain of community malls in the provinces.

WM Shopping Center Management Inc. (WMSCMI) said in a statement it was eyeing new branches in Tarlac, Nueva Ecija, Bulacan and Batangas as part of its expansion plan for this year.

Within the next five years, the company wants to double the number of its community shopping centers and supermarkets from the current total of 23.

“As we grow our portfolio, we need a reliable power supply to ensure convenient shopping for our valued customers every day,” WMSCMI Abraham Uy said.

“We trust that AboitizPower, with its proven track record in power generation and distribution, has the capacity to meet our requirements and help us deliver on our brand promise,” Uy said.

AboitizPower first vice president Ochie Gloria, who is in charge of energy sales and trading at the power firm, said signing up with suppliers that have the size, portfolio of power plants and experience in the industry assures mall goers of a reliable supply of electricity.

With its portfolio of renewable energy and thermal power plants, AboitizPower currently has a net sellable capacity of 2,975 MW as of end2016.

Last week, the company said it has firmed up plans for peso-denominated, fixed-rate retail bonds totaling P30 billion, which would be issued in one or more tranches depending on market conditions.

Proceeds of the retail bonds will be used to finance potential acquisitions, future investments, and other general corporate requirements, the company said.

Antonio R. Moraza, AboitizPower president and chief operating officer, said the company intended to add more capacity in the next few years toward its target of 4,000 MWby 2020.