Solar Philippines Nueva Ecija Corp. signed a 10-year power supply agreement with Angeles Electric Corp., the third largest distribution utility in Luzon, marking its first step towards supplying renewable energy to Central Luzon.
AEC awarded the PSA following the successful conclusion of a competitive selection process or bidding, which saw SPNEC emerging as the most competitive among five bidders which is said to include Bacman Geothermal Inc. of Energy Development Corp., SN Aboitiz Power Corp. and AC Energy Corp.
AEC conducted the CSP in support of the DOE’s Renewable Portfolio Standard program.
“We wish to thank Angeles Electric for conducting a very professional CSP that will benefit the consumers of Angeles City. We are grateful for this opportunity to work with Angeles Electric, which is a pioneer of the solar industry of the Philippines,” Solar Philippines founder Leandro Leviste said.
Based on the terms published on the Department of Energy website, SPNEC would supply AEC about 97.8 megawatt-hours per day from 6 a.m. to 6 p.m. for 10 years.