AboitizPower, Ibaan Electric renews power supply agreement
Aboitiz Power Corp. said its subsidiary Therma Luzon, Inc. will continue to supply power to Ibaan Electric Corp. after the latter renewed its power supply agreement for five years.
In a statement on Thursday, AboitizPower said Therma Luzon will supply about 10.92 megawatts (MW) to the municipality of Ibaan, Batangas as well as nearby barangays of Adya in Lipa City and Salaban in San Jose.
“We are grateful for having been given another opportunity to make an impactful change within the communities served by IEC,” Angeli A. Parcia, AboitizPower’s wholesale head, said.
Edelyn Jane A. Salvame, chief executive officer of Ibaan Electric, said the partnership affirms the commitments of both entities to provide reliable electricity.
“We are hopeful that this renewed partnership will further address the need for reliable electricity for businesses and households in our province and ultimately pave the way for sustained economic growth and improved quality of life,” Ms. Salvame said.
“With this renewed partnership with [Ibaan Electric], we are excited to kick start our efforts in ensuring the delivery of reliable energy to help businesses prosper and support the day-to-day lives of families and communities,” Ms. Parcia added.
By the end of 2030, AboitizPower is targeting to expand Cleanergy in the Philippines and abroad. It is targeting to build an additional 3,700 MW of renewable energy, expanding its capacities to 4,600 MW by 2030.
To date, AboitizPower has about 1,000 MW of renewable energy projects. — Ashley Erika O. Jose
