December 28, 2024 | 12:00am
MANILA, Philippines — The energy firm of Nickel Asia Corp. (NAC) has entered into a power supply agreement (PSA) with the retail electricity supplier (RES) units of Aboitiz Power Corp. (AboitizPower) for the supply of renewable energy.
Emerging Power Inc. (EPI), through its subsidiary Northern Palawan Power Generation Corp., signed a PSA with Aboitiz Energy Solutions Inc., now known as Adventpower Inc. and Adventenergy Inc.
EPI is the renewable energy subsidiary of NAC.
The electricity supply will be sourced from the 70-megawatt power (MWp) solar power project (Phase One) located in Barrio Cawag, Subic Freeport Zone, Zambales, according to NAC.
“The deal strengthens the long-term partnership between EPI and AP, reflecting their shared vision of contributing to the national grid and advancing the country’s clean energy and decarbonization goals,” said NAC, the country’s leading nickel producer.
The Cawag solar power project is a key component in the renewable energy portfolio of EPI.
“The capacity allocated under the PSA will be crucial in ensuring a stable supply of clean energy to Adventenergy and Adventpower’s portfolio of customers from the commercial and industrial market,” NAC said.
Adventenergy and Adventpower equip more than 500 facilities across the Philippines with reliable, innovative and sustainable energy solutions.
EPI earlier disclosed that it plans to target one gigawatt of power capacity by 2028.
In November, NAC said the construction of the 145-MWp Cawag solar project would begin soon. The first phase of the project secured a notice to proceed in September with its target completion set in the fourth quarter of next year.
Furthermore, Greenlight Renewables Holdings Inc., EPI’s joint venture with Shell Overseas Investments B.V., is constructing its solar project in Leyte with an initial 120-MWp slated to be completed by the second quarter of 2025.
NAC added that pre-development activities for a 45-MWp solar project in Botolan, Zambales is ongoing while the notice to proceed is expected to be issued by the first half of next year.
“These developments are aligned with our objectives of increasing our nickel production and achieving a renewable energy capacity of one gigawatt attributable to NAC by 2028,” NAC president and CEO Martin Antonio Zamora earlier said.
Be the first to comment