The Energy Development Corp, a First Gen Corp. subsidiary, has signed a 20-megawatt base load supply agreement with the Central Negros Electric Cooperative (Ceneco) in Negros Occidental.
Under the agreement, EDC will supply power to Ceneco for ten years beginning the last quarter of this year.
The company has supplied 20 megawatts of power to Ceneco since 2011. The new supply agreement doubles the First Gen subsidiary’s supply contract to 40 megawatts.
First Gen said the partnership with Ceneco provides affordable, clean and reliable energy to consumers consistent with renewable energy standards observed by the provincial government’s green economy objective and to transition to a reliable, renewable, affordable and sustainable energy in Occidental Negros by 2030.
Ceneco said contracting 40 percent of its power requirement from renewable energy sources is a deliberate choice. It intends to boost the number in the future.
First Gen generates 3,500 MW of power from a portfolio of natural gas, geothermal, hydroelectric, wind and solar energy sources.
It plans spending $20 billion until 2030 to add 9,640 MW capacity and generate an aggregate 13,000 MW by then.
