Aboitiz Power Corp. said Thursday it signed a bilateral supply contract with Zamboanga del Norte Electric Cooperative or Zaneco covering a 5-megawatt capacity from a new hydro power project in Bukidnon.
Under the agreement, Aboitiz Power would supply 5 MW to Zaneco from the 68.8-MW Manolo Fortich run-of-river hydro power plant, whose construction would be completed soon.
The power plant, being constructed by Aboitiz Power subsidiary Hedcor Inc., is slated for completion in 2017.
“Our area is short of power, and with this supply we hope to solve our problem, this time through renewable energy,” Zaneco board president Jesus Eduardo Tayrus Sr. said in a statement.
Zaneco serves the cities of Dipolog and Dapitan and the entire Zamboanga del Norte province.
“We praise the zealousness of Zaneco in ensuring they get renewable energy to meet the needs of their growing franchise area,” Hedcor assistant vice president Darlene Arguelles said.