AP Renewables, MORE sign emergency power-supply accord of 10MW for 1 year

By Lenie Lectura – May 23, 2019
from Business Mirror

AP Renewables Inc. (Apri) and MORE Electric and Power Corp. (MORE Power) on Wednesday signed an emergency power-supply deal.

Under the negotiated deal, Apri will supply MORE Power 10 megawatts  for one year, with an option to add 5 MW.

Apri will source power from its Tiwi and MakBan geothermal power plants, located in Albay and the provinces of Laguna and Batangas, respectively. Under the law, MORE Power is allowed to access emergency power supply through negotiated procurement, provided this will only be for a period of one year, and the rates must not be higher than the latest Energy Regulatory Commission (ERC)-approved generation tariff for the same or similar technologies in the area.

The agreement will take effect once MORE begins its operations.

In February, President Duterte signed a law granting MORE Power a 25-year power-distribution franchise in Iloilo City.

“Our partnership with AP Renewables Inc. is a testament to MORE Power’s corporate direction to go beyond and above compliance with what is required in the Renewable Energy Act by advocating renewable energy and eventually increasing its power supply from renewable sources,” said Roel Z. Castro, MORE Power president.

Castro and Apri President Alexander B. Coo signed the interim power-supply agreement.

“Geothermal power is definitely unique because it is renewable energy, yet it can be baseloaded—meaning, it delivers power 24/7. For a growing metropolis like Iloilo City, this makes perfect sense. We are definitely excited to be partners with MORE Power and even more excited to be part of the growth of Iloilo City,” Coo said.