First Gen Corp. said Thursday it signed a contract with Central Negros Electric Cooperative for 20 megawatts of baseload supply.
The signing concluded CENECO’s competitive selection process for the procurement of baseload power supply requirement conducted by the cooperatives’ third party bids and awards committee.
First Gen through its 100-percent renewable energy subsidiary Energy Development Corp. will provide 20 MW of power supply to CENECO for 10 years beginning the fourth quarter of 2023.
First Gen has been supplying clean and renewable power to CENECO since 2011, with a contracted demand of 20 MW. With the new contract, an additional 20 MW will be delivered, bringing their total contracted demand from First Gen to 40 MW, and its biggest supplier of renewable energy.
“Our relationship with CENECO is one that has been strengthened over time by mutual respect and trust. We’ve shared so much and weathered through many storms – literally and figuratively. And we’re still here trying to do something good for our stakeholders. And now more than ever, I feel like our relationship in terms of value is highlighted,” First Gen vice president for power marketing, economics and trading Carlos Lorenzo Vega said. Alena Mae S. Flores