AboitizPower bags First Bay’s supply contract

ABOITIZ POWER Corp. has secured the supply contract of First Bay Power Corp., extending their partnership which spanned for more than a decade ago.

After three months of a competitive selection process, AP Renewables, Inc., the power firm’s renewables arm, was chosen out of four bidders for the distribution utility’s power supply agreement.

The deal is to deliver 10 megawatts of geothermal energy to Bauan town, Batangas, the franchise area of First Bay.

“It is our privilege to take this journey further, as we support the needs of FBPC, and in turn, contribute to the continuing growth of residents and businesses in the province, in ways that are reliable and sustainable,” said AboitizPower Vice President for Commercial Operations Juan Alejandro A. Aboitiz in a statement.

AP Renewables runs two geothermal facilities; one in Bay, Laguna and another in Tiwi, Albay. These were acquired from the National Power Corp. back in 2009.

First Bay replaced Bauan Electric and Light System as the Batangas town’s distribution utility. In 2016, the government granted it with a franchise.

Two years ago, the Department of Energy under Secretary Alfonso G. Cusi enforced a competitive selection process in the procurement of power supply by power utilities from generation firms. The scheme aims to bring down electricity cost.

Shares in AboitizPower fell by 1.15% to close at P25.90 each on Thursday.