Aboitiz Power Corp. has sealed a power supply agreement (PSA) in partnership with Nexif Ratch Investments Pte. Ltd. (Nexif Ratch) as a response to the demands of customers who might want to switch to a more sustainable source of energy,
Under the agreement, the power supply will come from Nexif Ratch’s 74-megawatt peak (MWp) solar project in Calabanga, Camarines Sur, which is expected to be operational by the second quarter of 2024.
In a report by BusinessMirror, AboitizPower First Vice President-Head of Retail James Byron Yu said that the company intends to let their customers know where their power is being sourced out since more of them want to become a part of the transition to renewable energy.
This agreement will increase the commercial and industrial market of its retail electricity entity Adventenergy Inc. (ADVENT) and its subsidiary AP Renewables Inc. (APRI), Yu added.
ADVENT offers a variety of energy efficiency solutions and power quality services including, energy auditing and smart metering system.
Meanwhile, APRI is one of the country’s leading suppliers of geothermal energy and a top retail electricity provider to both commercial and industrial customers, producing clean and renewable energy through its two facilities based in Albay, Laguna, and Batangas.
Nexif Ratch is a collaborative project between Nexif Energy, an independent power producer in Asia and Australia that focuses on the development, financing, construction, and acquisition of conventional and renewable power generation, and Ratch Group of Thailand which owns power generation of approximately 8,000 MW across Thailand, Australia, Laos, China, Indonesia, and Vietnam.