GT Capital power unit inks Panay supply deal
Electric cooperatives in Panay have signed a 25-year power supply contract with Panay Energy Development Corp. (PEDC), a wholly-owned subsidiary of Global Business Power Corp. (GBPC) of the GT Capital Holdings group.
The cooperatives, which form the Panay- Guimaras Power Supply Consortium (PPSC), are Iloilo Electric Cooperatives I, II, III, Antique Electric Cooperative and Guimaras Electric Cooperative.
Members of the consortium have entered into an agreement with PEDC for an aggregate power supply of 24 megawatts (MW) at the rate of P5.05 per kilowatt-hour, which would take effect in July 2016.
The supply will come from PEDC’s 150- MW expansion project.
Consortium president Wilfred Billena said the P5.05 per kwh charge is the lowest rate they were able to secure.
GBPC executive vice president Jaime Azurin said the company is pleased to be able to provide adequate, reliable and cost efficient power supply.
“We can expect efficient use of fuel from a single larger plant of 150 MW that is equipped with the latest circulating fluidized bed (CFB) boiler technology. Likewise, we were able to reduce the project’s development cost for there are existing facilities, like the jetty port, that can be shared with the expansion plant. The cost benefits of our expansion plant enabled us to offer the rate of P5.05 per kwh, the lowest offered price of electricity in the Visayas,” he said.
Already 40 percent complete, the project will commence operations in June 2016. The company is currently working on the completion of the steel structures and foundation works for the boiler and turbine.
Upon commercial operations of the plant, PEDC will be operating the single largest power generating facility in the Visayas.
GBPC is a member of GT Capital Holdings, one of the leading power producers in the country with plant facilities in Cebu, Iloilo, Aklan and Oriental Mindoro.
It has diversified power generation facilities that are capable of supplying base, intermediate, peak load and ancillary support. Furthermore, it offers flexible energy solutions that can serve the varying power requirements of the market.