Aboitiz Power Corp. subsidiary Therma Luzon, Inc. (TLI) and Ibaan Electric Corp. (IEC) have renewed their partnership for five more years through a recently signed power supply agreement (PSA).
Under the contract, TLI will supply 10.92 megawatts (MW) to the municipality of Ibaan, Batangas and adjacent barangays of Adya in Lipa City and Salaban in the Municipality of San Jose.
Edelyn Jane Salvame, IEC chief executive officer, said the contract with Aboitiz Power affirms both companies’ role in providing steady, reliable and competitively-priced electricity supply to businesses, households and communities in the province of Batangas.
The parties did not disclose the amount and rate involved in the deal.
Salvame said TLI has been IEC’s supplier since 2010.
Throughout their 13-year partnership, AboitizPower and IEC have also collaborated on educational programs for various schools in Batangas.
Aboitiz Power eyes spending P190 billion over the next decade for an additional 3,700 MW of renewable energy, growing its capacities to 4,600 MW or three times the company’s current renewables portfolio by 2030.
