Aboitiz firm assures Camarines Norte of 10-year power supply

An Aboitiz-owned company will supply 18 to 20 megawatts of electricity to Camarines Norte power consumers from geothermal power plants in Tiwi, Albay, and Makiling-Banahaw area, Laguna. AP Renewables, a wholly owned subsidiary of Aboitiz Power Corp. has signed a 10-year contract with Camarines Norte Electric Cooperative, Inc. (Canoreco), and will supply the electricity starting starting Dec. 26. Canoreco distributes power to Camarines Norte’s capital city Daet and the municipalities of Basud, Capalonga, Labo, Mercedes, Paracale, Panganiban, San Vicente, Sta. Elena, Talisay, and Vinzons. “AP Renewables is delighted to partner with Canoreco in providing it the power it needs. We are committed not only to provide electricity but to see the growth of our client-partners," Aboitiz Power senior vice-president for trading and marketing Luis Miguel Aboitiz said in a statement. The power supply contract was awarded to AP Renewables after a competitive bidding process among four proponent generators. “Canoreco is very pleased that in partnership with Aboitiz Power, it will have a stable and secure power supply for the next 10 years," said Canoreco general manager Lorenzo Canlas. Aboitiz’s geothermal power plants in Albay and Laguna generate 467 MW of power. Aboitiz Power owns several hydroelectric and geothermal assets, as well as non-renewable power plants such as coal and diesel-fired barges. — MRT/ELR, GMA News