Thursday, 28 October 2010 12:59
ABOITIZPOWER Corp., through wholly owned subsidiary Therma Luzon, Inc. (TLI), recently signed a power supply agreement with leading mining company Benguet Corp.
TLI COO Benjie Cariaso and Benguet Corp. SVP and CFO Renato Claravall formally signed a power supply agreement in Makati. AboitizPower North Luzon Area Manager Mike Lopez and Benguet Corp. SVP-Mining & Services Marcelo Bolano stood as witnesses, with Benguet Corp. COO Bienvenido Araw also in attendance.
“AboitizPower's agreement with Benguet Corp. shows an outstanding example of two private companies collaborating to achieve mutually acceptable business goals,” said Cariaso.
AboitizPower started providing energy to Benguet Corp.’s Acupan mine in Itogon, Benguet last September 26, 2010 and will continue to do so until September 25, 2011.
"Benguet Corp. is a 107-year-old company; we are very much aware of Aboitiz's involvement in the power industry, and how it has become a major player. That's the kind of partner we seek; one that also has a history as long as ours, and has pertinent experience in the field," said Claravall.
AboitizPower has committed to provide Benguet Corp. an initial load requirement of 700 kW at peak demand, and 352,222 kWh to 422,664 kWh electric energy per month. The power supply will be sourced from TLI’s coal-fired plant in Pagbilao, Quezon, which currently has a capacity of 700 MW.
TLI won the contract for the generated output of the Pagbilao coal-fired power plant in August 2009. It is responsible for procuring the plant’s fuel requirements, electricity dispatch, and sale.
Through its power supply agreement with Benguet Corp. and other private companies, AboitizPower further strengthens its commitment to provide reliable and ample power throughout the country at a reasonable and competitive price.
AboitizPower has likewise recognized the need to pursue cleaner and renewable sources of energy through its Cleanergy brand. Several of its hydroelectric power plants are located in the Northern Luzon region. They include the Magat plant at the border of Isabela and Ifugao provinces; the Ambuklao plant in Bokod, Benguet; the Binga plant in Itogon, Benguet; ten mini hydroelectric power plants found across Benguet; and the Bakun plant in Alilem, Ilocos Sur.
AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services. It is a major producer of renewable energy in the country with several hydroelectric and geothermal assets in its generation portfolio. The non-renewable portfolio consists of plants throughout the country. The distribution utilities it owns and operates are located in Luzon, Visayas and Mindanao.
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