First Gen Corp. has signed agreement with the Central Negros Electric Cooperative
(Ceneco) for the procurement of the cooperative’s 20 megawatts (MW) baseload power supply requirement.
First Gen said under the agreement, its subsidiary Energy Development Corp. will provide the power supply to Ceneco for 10 years targeted to commence in the last quarter of the year, once all requirements have been finalized and secured.
The company has been supplying power to Ceneco since 2011 with a contracted demand of 20 MW, adding another 20 MW for a total of 40 MW under this new contract.
First Gen added its partnership with Ceneco is seen to provide affordable, clean and reliable energy to consumers especially that the contract is compliant with Renewable Portfolio Standards and aligned with the provincial government’s thrust to pursue and develop a diversified green economy and to transition to reliable, renewable, available, accessible, affordable and sustainable energy in Occidental Negros by 2030.
Ceneco prioritizes contracting for sustainable and reliable energy to make 40 percent of its overall contracted supply renewable, with an intention to further increase it in the future.
