Global Business Power Corporation (GBP) through its official retail energy arm, Global Energy Supply Corporation (GESC), has recently signed a power supply agreement with Century Peak Corporation (CPC) under the Energy Regulatory Commission’s retail competition and open access (RCOA) scheme.
Under the agreement, GBP will supply 57 MW of power over a five-year cooperation period to CPC, which has footprint in mining, cement, steel, and minerals development.
“This partnership underscores both GBP and CPC’s commitment to support the country’s infrastructure drive, as the government’s ‘Build Build Build’ program goes into full swing,” said GBP Executive Committee Chairman Jose K. Lim, adding that the retail contract supply is GBP’s largest to date.
Data from the Department of Budget and Management show that the government has earmarked Php910 billion for infrastructure spending for 2019, or equivalent to 4.7 percent of the country’s gross domestic product (GDP). Infrastructure spending is further expected to break the P1-trillion mark in 2020, and peak to P1.81 trillion by 2022—equivalent to 7 percent of the country’s GDP.
According to the National Economic Development Authority, 44 “Build Build Build” projects are already in various stages of implementation as of November 2018, and 28 of these are expected to be completed by 2022.
“Century Peak is one of the country’s leaders in cement and steel manufacturing,” added GBP President Jaime T. Azurin. “We thank them for their trust in us and our new vision to become a total sustainable energy solutions provider,” Azurin added.
“As we continue to support the country’s infrastructure drive through our operations, we look forward to working with GBP to help meet our energy requirements,” said CPC Chief Executive Officer Wilfredo D. Keng.
RCOA is a provision under the Electric Power Industry Reform Act (EPIRA) that allows “contestable customers”, or those whose peak demand fall within the threshold level of contestability, to freely choose their electricity supplier.
GBP is one of the leading independent power producers in the Visayas and Mindoro, with facilities located in Cebu, Iloilo, Aklan, and Mindoro. It is currently developing a 2X335 MW supercritical coal-fired power facility in La Union, and has recently acquired a 50% interest in Mindanao-based Alsons Thermal Energy Corporation, which serves as the holding company for all baseload coal-fired power plant assets of Alsons Consolidated Resources, Inc. (ACR). #
Seated, from L-R: GBP Chief Financial Officer Rochel Gloria, GBP President Jaime Azurin, MPIC
President and Chief Executive Officer Jose Ma. Lim, MPIC Chairman Manuel Pangilinan, CPC President and CEO Wilfredo Keng, CPC Executive Vice President for Operations Patricia Keng, and CPC Vice President for Finance Katrina Keng. Standing, from L-R: GBP Vice President for Commercial Operations and Strategy Philip Dasalla, GBP Chief Operating Officer Dominador Camu Jr., CPC Chief Operating Officer Roy Ebarle, CPC Directors Daniel Pascual and Benito Ong, and CPC Vice President Brian Keng.
Metro Pacific Investments Corporation (MPIC) Chairman Manuel V. Pangilinan (fourth from left) and Century Peak Corporation (CPC) Chief Executive Officer Wilfredo D. Keng (fifth from left) with (from left to right) GBP Chief Finance Officer Rochel D. Gloria, GBP President Jaime T. Azurin, MPIC President and CEO Jose Ma. K. Lim, CPC Executive Vice President for Operations Patricia C. Keng, and CPC Vice President for Finance Katrina C. Keng.
