Therma Mobile signs PSA with Meralco

By Lenie Lectura – April 23, 2019
from Business Mirror

ABOITIZ Power Corp. subsidiary Therma Mobile Inc. (TMI) announced on Monday that it signed a deal to supply 20 megawatts (MW) of power to Manila Electric Co. (Meralco).

The newly signed power-supply agreement (PSA) will help the Luzon grid in its much-needed additional capacity.

“This contract is a timely response of both AboitizPower and Meralco to the call of government for stable and reliable power going into the midterm elections and beyond,” AboitizPower Oil Business Unit President and COO Celso C. Caballero III said.

TMO will source power from its four floating power barges moored in Navotas. The barges have a combined gross capacity of 242 MW. The facility went into preservation mode on February 5, as well as voluntarily disconnected from the grid and de-registered from the energy market.

It is currently expected to be registered again with the Independent Electricity Market Operator of the Philippines Inc. (IEMOP) on April 22, and delivery of power to Meralco will commence on April 26, 2019. The oil-fired barges in Navotas are considered ideal for providing peaking supply and ancillary services with its operational flexibility and the ability to start up quickly to respond to the needs of the grid.

The Oil Business Unit of AboitizPower operates five oil-fired power facilities in Luzon, the Visayas and Mindanao.

Aboitiz Power has a balanced mix portfolio of coal, oil, geothermal, hydro and solar-power plants nationwide.