South Cotabato II Electric Cooperative Inc. (Socoteco II) gained backing from its member-consumer-owners for the proposed conditional joint venture agreement with IGNITE Power Inc. as the electric distribution utility moves to rehabilitate and modernize its aging power grid.

In a statement, IGNITE said more than 32,000 member-consumer-owners endorsed the agreement during the cooperative’s 43rd annual general membership assembly held across four simultaneous venues in General Santos City and Sarangani province.

Ignite Power is the energy partnership between billionaire Enrique Razon Jr.’s Primelectric Holdings Inc. and boxing legend Manny Pacquiao’s MP Holdings.

The assembly ratified a board resolution authorizing the cooperative to partner with IGNITE Power, a joint venture between Primelectric Holdings Inc. and MP Holdings.

Board President Elenito Senit signed the conditional agreement with IGNITE Power following board approval.

IGNITE said the deal aims to address long-standing financial and technical challenges by securing private capital to upgrade facilities, expand network capacity, improve service reliability, and strengthen the cooperative’s long-term financial position.

Under the proposed partnership, IGNITE Power will inject fresh capital to rehabilitate obsolete equipment, expand substations and feeder capacities, and modernize distribution lines across General Santos City, Sarangani province, and neighboring municipalities.

Member-consumer-owners approved a separate resolution requesting the immediate conduct of a plebiscite, where members will formally vote on the agreement before it becomes final and legally binding.

IGNITE added that assembly members passed a third resolution expressing full backing for the partnership, noting that substantial private investment is essential to elevate power quality across the franchise area.

Senit instructed the cooperative’s Institutional Services Department to roll out an information, education, and communications campaign to ensure members understand the terms, financial implications, and long-term benefits before voting. The cooperative will coordinate with the National Electrification Administration to secure procedural guidelines before setting the official plebiscite schedule.

Local government officials emphasized the strategic importance of stabilizing power supply to boost local economic growth.

Sarangani Governor Ruel Pacquiao urged power distributors and national government agencies to collaborate to keep electricity tariffs reasonable while upgrading the grid, noting that stable and affordable power remains a primary consideration for incoming businesses.