Citicore corners 3 new power supply contracts

Published December 9, 2021, 4:02 PM

by Myrna M. Velasco

Citicore Power Inc. has cemented at least three new contracts in power retailing, a policy regime in the power sector that empowers customers to choose its preferred power supplier.

Via its retail supply arm Citicore Energy Solutions Inc. (CESI), the Megawide-affiliated power company indicated that it had underwritten new supply contracts with Liberty Flour Mills, which is into manufacturing of flour and related products, and Provera Nutritional Solutions Corp, a wholesaler of feed milling and farm supplies.

The other new contract that CESI had cornered in the retail competition and open access (RCOA) space is with South Town Centre, a three-storey commercial shopping center developed by Limchua Development Corp.

Citicore also announced that two of its existing clients – the Succeed Asia Ventures Inc. at the Cagayan Freeport Economic Zone, and Ground 18 Realty Corporation or the “Bench Tower” at the Fort Global City in Taguig — have renewed their power supply deals for two more years.

In broadening the base of its retail electricity customers, Citicore President and CEO Oliver Tan noted “the company is optimistic and committed in establishing partnerships while utilizing socially responsible technologies and methodologies.”

He added that with the “strong and competent team” of the company, “we look forward to partner with businesses having the same goals for renewable energy and the country – to bring progressive energy solutions in achieving strategic goals and business objectives.”

On top of the three new power retailing deals, Citicore stated that it also debuted its AgriSolar social project, touted as the first in the country and this is anchored on amalgamating the business of solar power generation while enabling agricultural crops to grow underneath the solar panels. This is now a thriving partnership between Citicore and small farm growers in its host communities.

The next terrain of ventures and customer-engagement for the company will be in the green energy option program (GEOP) sphere, in which Citicore has already been accredited as a player by the Department of Energy.

Through GEOP, Citicore can directly offer to qualified customers power contracts that will primarily lean on the delivery of electricity supply from renewable energy sources.

The aggregate capacity of Citicore to date stands at 163 megawatts. It has target to expand that to 1,500 megawatts by 2025.