Advent Energy Inc., a retail electricity supplier (RES) business unit of Aboitiz Power Corporation, has signed up Vita Tropic Ice Company Inc., an ice manufacturing entity, as its first customer under the Green Energy Option Program (GEOP) of the government.
The GEOP policy promotes that green energy contracts or power supply agreements (PSAs) anchored on renewable energy (RE) capacities be cornered by RES entities in the restructured power sector of the country.
According to Aboitiz Power, the ice manufacturing company has become its first customer under GEOP with the start of the power contract on March 26 this year.
Under GEOP, contestable customers with demand of at least 100 kilowatts (kWh) can already negotiate for their own supply that shall give preference to RE as the technology source for electricity.
David Co, who is the head of business development at Vita Tropic, said “We must ensure that in everything we do, we do it with utmost regard to what effects it has on our environment.”
The GEOP contracting space is the new sphere of competition among players in the power industry – primarily in cornering customers that will genuinely give premium to the environment in their energy usage.
Advent Energy is just one of the corporate vehicles of the Aboitiz group dangling ‘green energy leaning’ power contracts to customers. Its two other GEOP firms accredited by the Department of Energy (DOE) are Aboitiz Energy Solutions Inc. and Prism Energy Inc.
Juan Alejandro Aboitiz, senior vice president for commercial operations of Aboitiz Power, indicated that the GEOP policy could be “a key driver for renewable energy growth in the Philippines.”
He explained that this “gives more customers the option and opportunity to join the movement towards a sustainable energy transition.”
Aboitiz added their company is “looking forward to the implementation of GEOP and now that it’s finally happening, we’re confident that we have the ability and expertise to serve the needs of the GEOP market.”
When more consumers would underwrite contracts that will supply them with RE-underpinned electricity services, it has been noted that this will help investments in various RE technologies to flourish in the country.