Global Business Power Corp., through retail arm Global Energy Supply Corp., recently signed a power supply agreement with Century Peak Corp. under the retail competition and open access scheme of the Energy Regulatory Commission.
RCOA is a provision under the Electric Power Industry Reform Act that allows “contestable customers,” or those whose peak demand falls within the threshold level of contestability, to freely choose their electricity supplier.
Global Business will supply 57 megawatts of power over a five-year cooperation period to Century Peak, which is into mining, cement, steel and minerals development.
“This partnership underscores both GBP and CPC’s commitment to support the country’s infrastructure drive, as the government’s ‘Build Build Build’ program goes into full swing,” said Global Business Power executive committee chairman Jose Ma. Lim.
The National Economic and Development Authority said 44 “Build Build Build” projects were in various stages of implementation as of November 2018, with 28 expected to be completed by 2022.
“As we continue to support the country’s infrastructure drive through our operations, we look forward to working with GBP to help meet our energy requirements,” said Century Peak chief executive officer Wilfredo Keng.
Global Business Power president Jaime Azurin said Century Peak was one of the country’s leaders in cement and steel manufacturing.
“We thank them for their trust in us and our new vision to become a total sustainable energy solutions provider,” said Azurin.
Global Business Power is one of the leading independent power producers in Visayas and Mindoro, with facilities in Cebu, Iloilo, Aklan, and Mindoro.
It is currently developing a 600-MW coal-fired power facility in La Union and has recently acquired a 50-percent interest in Mindanao-based Alsons Thermal Energy Corp., which serves as the holding company for all baseload coal-fired power plant assets of Alsons Consolidated Resources Inc.