From ports to power, Razon gives MORE
Razon said the new investment demonstrates the company’s support to augment the capacity of the province’s grid.
The Western Visayas or Region 6 — composed of six provinces including Iloilo province — continue to benefit from the investments committed by businessman and tycoon Enrique Razon Jr.
Particularly, Razon’s investments in the power sector in the region help ante up its economic growth. Just recently, MORE Electric and Power Corp., or
MORE Power inaugurated its 30/36MVA Megaworld substation in Mandurriao, Iloilo City.
Razon said the new investment demonstrates the company’s support to augment the capacity of the province’s grid, especially amid an unprecedented increase in demand as summer started.
“We are proud to have been part of Iloilo’s journey, towards progress and will remain committed to contributing to the region’s economic and social development,” Razon was quoted as saying during an inaugural ceremony.
Modern services vowed
Meanwhile, Roel Castro, president and CEO of MORE Power, reiterated that the company created the state-of-the-art features of the substation that can be easily controlled and operated off-site in the control center.
SCADA-ready, the substation can communicate with all the substations. To even ramp up its capacity, a new control center will also be operational by the end of the year.
MORE Power, is an electric power distribution company serving Iloilo City since 2019, after its controversial takeover of the power distribution assets of private firm Panay Electric Company.
Razon has been heavily investing in the power sector to help the government achieve energy security.
His other company, Prime Infra, recently completed its acquisition of the 45-percent operating stake in Malampaya through one of its subsidiaries, Prime Energy.
MORE Power, is an electric power distribution company serving Iloilo City since 2019.
The company assumed full ownership and control of Shell Philippines Exploration B.V. starting 1 November after a successful transition process for a safe and seamless handover of operations. The move marked the initial foray of Razon’s infrastructure arm into the upstream energy market.
The company previously assured that it will do “all that can be done” to generate as much power as possible to keep up with the energy demands in Luzon.