July 28, 2016
from Business Mirror
The Energy Regulatory Commission (ERC) on Thursday said it has issued a Retail Electricity Supplier (RES) license to Manta Energy Inc. (Manta), an affiliate of renewable-energy (RE) developer Emerging Power Inc. (EPI).
Manta Energy is the exclusive retailer and marketer of EPI. The RES license allows the company to engage in selling, brokering, marketing and aggregating electricity produced by various energy sources, including EPI’s RE power projects to qualified contestable consumers in the Retail Competition Open-Access program.
The RES license is valid for five years, and is nontransferable, and must be renewed at least 60 days prior to the expiration of the current license.
“We are very grateful to the ERC for issuing the RES to our company. Rest assured we will not fail them in their trust for us to contribute to a better, more efficient energy sector in the country,” Manta Energy President Alberto Guanzon said.
The RES license is a step closer to bringing RE into the forefront and “greening” the commercial power supply of contestable customers, Guanzon added.
To date, Manta Energy is targeting contestable customers all over the country with an average monthly demand of 750 kilowatts and above.
Manta and EPI are both majority owned by Nickel Asia Corp. (NAC), one of the country’s biggest mining firms. NAC has guaranteed the loan facility of EPI to develop renewable sources energy in Luzon, the Visayas and Mindanao.
EPI is currently building a 100-megawatt solar farm in Subic, Zambales. It is one of the biggest solar farms in Southeast Asia. The company also has geothermal developments in Mindoro and Biliran province.