Lopez led- First Gen Corp., through its subsidiary Energy Development Corporation (EDC) sealed a 10-year power supply agreement (PSA) with Central Negros Electric Cooperative (CENECO) providing a 20 megawatt (MW) expansion to the electric cooperative’s (EC) baseload power supply requirement.
In an article by BusinessWorld, EDC will begin supplying by the fourth quarter of 2023.
Since 2011, EDC has provided power to CENECO at a contracted demand of 20 MW, bringing the total demand for RE supply to 40 MW.
According to First Gen Vice President Carlos Lorenzo L. Vega, the relationship between the two companies has been strengthened over time through mutual respect and trust.
The First Gen official also expressed that First Gen and Ceneco’s partnership in terms of value is highlighted.
In an attempt to expand its geothermal power generation capacity, EDC earlier said it plans to drill two additional exploration areas by 2024.