GBP funds construction of Iloilo molecular lab

Manuel V. Pangilinan-led Global Business Power Corp. (GBP) has remitted funds to help build the Iloilo City molecular laboratory.

The remittance of P53 million was made through subsidiaries Panay Energy Development Corp. (PEDC) and Panay Power Corp. (PPC).

The local government of Iloilo City was able to accommodate the development of the Uswag Iloilo City Molecular Laboratory in Molo district using Iloilo City and Barangay Ingore’s funds share out of PEDC and PPC’s electricity sales.

The molecular lab in Molo can process as much as 600 samples daily with a turnaround time of 24 hours. With the development of the said lab, residents of Barangay Ingore now have access to COVID-19 PCR tests and other lab services.

“Beyond the provision of stable power supply, GBP is committed to helping Iloilo City in its response against COVID-19. We hope that this molecular laboratory will enable faster release of reliable results and in effect, mitigate the spread of the virus,” GBP president Jaime Azurin said.

Under Energy Regulations 1-94 (ER 1-94), host communities are entitled to financial benefits of one-centavo for every kilowatt-hour (P0.01/ kWh) of the total electricity sales of generating companies to finance electrification, livelihood and development projects.

Pursuant to the Department of Energy’s Circular 2020-040008, ER 1-94 funds can be used to help local government units in their fight against the pandemic.

True to its commitment of enlightening lives and empowering progress, GBP is a dedicated partner of the nation in raising the quality of life of the Filipino and fueling economic development.

GBP, with a total gross capacity of 1,091 megawatts (MW), has diversified power generation facilities that are capable of supplying base, intermediate, peak load and ancillary support.