Vitarich Corporation and Corenergy, a wholly-owned subsidiary of Vivant Corporation, have signed a one year energy supply agreement for up to 0.75 megawatts (MW).
In a disclosure to the Philippine Stock Exchange, Vitarich said the agreement will enable it to realize savings, ranging from P3.2 million to P3.9 million in 2022.
Under the agreement, Corenergy will supply VITA with a maximum of 0.75 MW of electricity twenty four hours a day, seven days a week (24/7) without interruption to ensure that its power requirements for Marilao, Bulacan office and dressing plant operations are 100 percent covered.
Corenergy will also provide value-added services such as daily and hourly power consumption monitoring, load profile analysis, power usage consultancy, related trainings, quality measurement, and thermal scan test.
“We look forward to collaborating more deeply and directly with energy leaders like Vivant,” said Vitarich President and CEO Rocco Sarmiento.
He added that, “Together, our organizations are committed to using resources efficiently and ensuring the long-term success of our businesses.” “We are honored to have gained the trust of VITA, a pioneering leader in the country’s agriculture sector,” said Corenergy President and CEO Al Douglas.
He noted that, “As a partner in growth, Corenergy will provide the excellent service that has powered the businesses of all our customers in Luzon, the Visayas, and Mindanao. We will help VITA fulfill its role in ensuring the continued growth of the agriculture sector as well as achieving food security for the country.”