Emerging Power renews supply deal with AboitizPower retail units
EMERGING Power, Inc. (EPI) on Thursday said it had renewed an agreement to supply power to the retail electricity units of Aboitiz Power Corp. (AboitizPower).
In a statement, EPI said its subsidiary Jobin-SQM, Inc. had signed a three-year deal to supply AboitizPower units Aboitiz Energy Solutions, Inc. (AESI), and Advent Energy, Inc.
“We also hope to continue strengthening our ties with other industry players to achieve energy security. This partnership means better accessibility to renewable energy for the country and casting a wider net to reach customers and businesses that are taking a step toward a sustainable future,” Sandro Aboitiz, senior vice-president for commercial operations of AboitizPower, said in a media release.
EPI said Jobin-SQM will source the power from its 100-megawatt-peak (MWp) Sta. Rita solar power plant in Subic, Zambales. The plant has completed the increase in its capacity from 62 MW, it added.
By yearend, EPI will have an additional 72-MW solar facility on the same site.
In 2020, EPI and AboitizPower forged a three-year power supply deal for AESI and Advent Energy.
EPI is the renewable energy arm of listed mining firm Nickel Asia Corp. It targets to expand its portfolio to 1,000 MW by 2028, which will include the proposed projects under its partnership with Shell Overseas Investments B.V.
On Thursday, shares in Nickel Asia gained 13 centavos or 1.75% to end at P7.57 apiece, while shares in AboitizPower inched up by 5 centavos or 0.13% to close at P37.75 each. — Ashley Erika O. Jose