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Manila Bulletin devider Business devider Citicore unit inks PSA with Cebu water firm

Citicore unit inks PSA with Cebu water firm

Published Jul 21, 2022 11:12 am

Citicore Energy Solutions Inc. (CESI), the retail supply arm of Citicore Renewable Energy Corporation (CREC), has recently signed up a long-term power supply agreement (PSA) with Cebu-based

water management solutions provider JE Hydro and Bio Energy Corp. (JEHBEC).

In a statement to the media, CREC said it will deliver of 1.0-megawatt power capacity to the Cebu water solutions firm. JEHBEC is touted as a competitive player in water treatment industry, and it has been providing end-to-end water solutions to customers in Cebu.

According to CREC, the power supply pact it inked with JEHBEC had been cemented under the ambit of the government-underpinned Green Energy Option Program (GEOP), or that scheme of power supply contracting in which the contestable customer will have to select renewable energy as its source of power supply.

In particular, the electricity to be delivered to JEHBEC will be coming from the Toledo solar farm facility of the Citicore group.

JEHBEC Chairman Joffrey E. Hapitan noted that their shift to RE for their energy needs reinforces not just their company’s green advocacy but will also be contributing to the improvement of overall supply chain of their business.

He expounded “from the design stage of our facilities, we already integrate resource conservation and environmental stewardship in developing studies and solutions for sustainable water systems. We further ensure our sustainability efforts by incorporating RE in our operations.”

Under the GEOP, the league of contestable customers or those end-users in the 100-kilowatt threshold can already directly negotiate and contract with their preferred suppliers.

CREC President and CEO Oliver Tan said “our shared vision in delivering more sustainable basic utilities to the Filipino people will help empower more communities and address the gaps in the water and energy supply situation across the country.”

CREC emphasized that it will continue to have tailor-fit power solutions offered to customers; and the target will be the end-users patronizing green energy in meeting their power requirements.

“With the company’s plan of growing its current capacity by five times to 1.5GW (gigawatts) in the next 5 years, CREC will have a steady pipeline of renewable energy sources available for offtake agreements with existing and new customers,” the Megawide-affiliated firm stressed.

Related Tags

#CREC #RETAILPOWER #JEHBEC #GEOP #RE
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