Oct 7 2010
Green Core Geothermal Inc, a partnering company of Energy Development Corp, Philippines, has declared the signing of accords with Aklan Electric Cooperative (Akelco), Iloilo Electric Cooperative (Ileco), and Capiz Electric Cooperative (Capelco) the utility companies in the Western Visayas region to supply geothermal power generated by it.
The agreement will enable the provinces to receive green and cost effect power for the next 12 years. The company will supply the power from its 192.5-MW Palinpinon facilities in Negros Oriental and 112.5-MW from Tongonan-1 plant in Leyte.
The signed contract will make it obligatory for Green Core to provide Akelco 18 MW power during 2010 and 10 MW from 2011 to 2020 to enable the cooperative to extend electricity to two municipalities in Antique and 17 municipalities in Aklan. The accord with Ileco will require it to supply 3 MW from 2010 to 2012 and 18 MW from 2012 to 2022 to enable Ileco to supply power to its 15 municipalities. Capelco will receive 12 MW from it for the subsequent 10 years to provide electricity to its 17 cities and municipalities.
Edgar Diaz, General Manager of Capelco, expressed his happiness about the deal because it costs less than other energy productions. He added that his company gets 70% of its requirement from cost effective geothermal resources and pays extra cost for the other 30% of energy. Chito Peralta, General Manager of Akelco said that his company is satisfied with the accord. He added that Aklan being located at the edge of the grid was always suffering from power shortages and the current agreement with Green Core will increase its power supply and increase the arrival of tourists to Boracay. Richard Tantoco, COO and Energy Development President, asserted that no value added taxes are levied on renewable energy sources.