By Lenie Lectura – August 17, 2017
from Business Mirror
Citicore Energy Solutions Inc. (Cesi), the retail electricity supply arm of Citicore Power Inc. (CPI), will supply 2.61 megawatts (MW) to Citystate Centre Condominium Corp. (CCCC), its first retail power customer.
Cesi and Citystate signed a retail contract last month that will allow CESI to be the retail electricity supplier of Citystate. The contract takes effect on August 26.
The deal was made possible through the Retail Competition and Open Access scheme, which enables large electricity consumers in Luzon and the Visayas with an average monthly peak demand of at least 1 MW to have the option to seek their own power suppliers.
“Being a newcomer in the industry, we have already achieved significant milestones. This is a momentous occasion because this is our first retail supply agreement to a contestable customer. We thank Citystate for the trust and the opportunity to partner with us, and we hope to strengthen this partnership in the coming years,” Cesi President Manolo T. Candelaria said.
“Hopefully, it is the first of a series of relationships that we will be doing. For us, we believe renewable energy, particularly solar energy, is the way to go for our projects. I think this is more than a start of something good for us,” CCCC President Jesus Antonio A. Cabangon Jr. said.
Cesi’s parent firm CPI currently has more than 100 MW of existing capacity from its three solar-power plants in Mariveles, Bataan; Silay City, Negros Occidental; and Toledo City, Cebu.
Other than solar power, the company is also broadening its horizon by currently exploring and pursuing different opportunities in other types of renewable-energy development.