A total of 164 megawatts (MW) worth of power supply agreements (PSAs) involving solar projects have been recently signed by local energy firms.
Aboitiz Power Corp.’s retail electricity entity Adventenergy Inc. and AP Renewables Inc. (APRI) entered into a PSA with Nexif Ratch Energy Investments Pte. Ltd. for the supply of 74 MW from a solar project in Calabanga, Camarines Sur.
The solar power plant is expected to be completed by the second quarter of 2024.
The parties said the partnership is also seen to further grow Adventenergy and APRI’s portfolio of customers from the commercial and industrial market.
SM Prime Holdings Inc. and Citicore Renewable Energy Corp. (CREC) signed a memorandum of agreement for up to 90 MW worth of electricity from the Lumbangan solar power plant in Tuy, Batangas.
The parties also eye to start the agreement in the first half of 2024.
“This partnership marks our strong commitment to providing sustainable operations in our developments nationwide. It is aligned with SM Prime’s target of achieving net zero by the year 2040. SM Prime ensures that its risk-informed investments catalyze sustainable development and positive change in the communities where it operates,” said John Ong, SM Prime chief finance officer, in a statement. – Jed Macapagal
