GESC to supply 57 MW of power to Century Peak

By Lenie Lectura – June 20, 2019
from Business Mirror

GLOBAL Energy Supply Corp. (GESC), the retail energy supplier of Global Business Power Corp. (GBP), will supply 57 megawatts (MW) of power to Century Peak Corp. (CPC).

The two companies signed a five-year power supply deal under the Energy Regulatory Commission’s Retail Competition and Open Access (RCOA) scheme.

RCOA is a provision under the Electric Power Industry Reform Act that allows “contestable customers” or those whose peak demand falls within the threshold level of contestability, to freely choose their electricity supplier.

CPC is engaged in mining, cement, steel and minerals development.

“Century Peak is one of the country’s leaders in cement and steel manufacturing,” GBP President Jaime T. Azurin said. “We thank them for their trust in us and our new vision to become a total sustainable energy solutions provider.”

This partnership underscores both GBP and CPC’s commitment to support the country’s infrastructure drive, as the government’s “Build, Build, Build” program goes into full swing, said GBP Executive Committee Chairman Jose K. Lim, adding that the retail contract supply is GBP’s largest to date.

Data from the Department of Budget and Management showed the government has earmarked P910 billion for infrastructure spending for 2019, equivalent to 4.7 percent of the country’s gross domestic product.  Infrastructure spending is further expected to break the P1-trillion mark in 2020, and peak to P1.81 trillion by 2022—equivalent to 7 percent of the country’s GDP.

The National Economic and Development Authority said 44 ‘Build, Build, Build’ projects are already in various stages of implementation as of November 2018. Of which, 28 are expected to be completed by 2022.

“As we continue to support the country’s infrastructure drive through our operations, we look forward to working with GBP to help meet our energy requirements,” CPC CEO Wilfredo D. Keng said.

GBP is one of the leading independent power producers in the Visayas and Mindoro, with facilities located in Cebu, Iloilo, Aklan and Mindoro. It is currently developing a 2X335-MW supercritical coal-fired power facility in La Union, and has recently acquired a 50-percent interest in Mindanao-based Alsons Thermal Energy Corp., which serves as the holding company for all base-load coal-fired power plant assets of Alsons Consolidated Resources Inc.