Raslag Corp. received a Notice of Award from Pampanga I Electric Cooperative, Inc. (PELCO I) for a 15-megawatt (MW) Peaking Power Supply Agreement (PSA), the company disclosed to the Philippine Stock Exchange.
The PELCO I Board’s approval of the contract marks a significant step in bolstering power supply reliability in the region. Raslag Corp. stated that the finalized PSA will now be forwarded to the National Electrification Administration (NEA) for the issuance of a Notice to Execute Agreement.
The agreement aims to address peak demand periods, ensuring a stable electricity supply for PELCO I’s service area in Pampanga. PELCO I, headquartered in Sto. Domingo, Mexico, Pampanga, serves as a key electricity provider in the province.
This development follows Raslag Corp.’s ongoing efforts to expand its footprint in the renewable and peaking power sectors.
As of March 21, the agreement awaits final execution, pending NEA’s authorization. The approved deal and the subsequent NEA endorsement process highlight the collaborative efforts between private energy firms and electric cooperatives to meet growing energy demands in the country.
What are your thoughts on the role of peaking power agreements in ensuring energy stability in the Philippines? Join the discussion below and share your insights on how such deals impact local communities and the energy sector!
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