Megaworld unit gets power supply on big Boracay project

By Alena Mae S. Flores – November 22, 2019 at 09:00 pm
from manilastandard.net

Global Business Power Corp., through its retail energy unit Global Energy Supply Corp., will supply four megawatts to Boracay Newcoast, the 140-hectare township of Global Estate-Resorts Inc. in Boracay Island.

GSEC recently signed a power supply agreement with GERI under the retail competition and open access regime.
GBPC is owned by Metro Pacific Investments Corp. and JG Summit Holdings Inc. and operates eleven power generation facilities in Cebu, Iloilo, Aklan and Mindoro provinces.

The company has also entered the Mindanao market through a 50-percent stake in Alsons Thermal Energy Corporation. GBPC’s diversified power generation facilities are capable of supplying base, intermediate, peak load and ancillary requirements.

RCOA, meanwhile, is a provision under the Electric Power Industry Reform Act that allows “contestable customers” to freely choose their electricity supplier.

“Our partnership with GERI comes at such an exciting time, as this retail supply agreement harnesses the synergy between the energy and real estate sectors and is well-positioned to tap into the country’s dynamic tourism sector,” said GBPC president Jaime Azurin.

Data from the Philippine Statistics Authority show that tourism remained a key economic growth driver. The Department of Tourism cited the reopening of Boracay Island as a contributor in the sector’s strong momentum.

A subsidiary of Megaworld, GERI is developing its first master-planned community in the island consisting of five districts, namely Newcoast Village, Oceanway Condominiums, Savoy, Belmont and Chancellor Hotels, Boracay Town Center and Newcoast Station.

“We are proud to share with GERI the same passion for nation-building, as this partnership is seen to further boost the tourism sector,” Azurin said, stressing GBPC’s commitment to strengthen its service offerings to customers.