Cebu III Electric Cooperative Inc. (CEBECO III) has signed a 25-year electric power purchase agreement (EPPA) with Toledo Power Company (TPC), a subsidiary of Global Business Power Corporation (GBP).
In response to the projected hike in power demand within its franchise area in Toledo City and the towns of Asturias, Balamban, Pinamungajan, and Aloguinsan, CEBECO III has entered into an agreement with TPC for the supply of 17 megawatts of electricity beginning February 26, 2015.
The contract signing ceremony was led by CEBECO III General Manager Virgilio C. Fortich, CEBECO III President Tereso B. Lebumfacil, Fr. Francisco Silva, GBP Executive Vice President Jaime T. Azurin and GBP Vice President for Toledo site operations Engr. Leah G. Diaz.
The demand for power in Western Cebu has been increasing steadily, with the mining and industry sectors as the primary growth drivers. To support Western Cebu’s additional power requirement, TPC’s recently inaugurated 82-megawatt expansion project will supply the 17-megawatt electricity needs of CEBECO III.
Meanwhile, 55 megawatts of electricity will be supplied to Carmen Copper Corporation effective December 26, 2014 to support its mining expansion projects, according to TPC.
GBP, a member of the Metrobank Group of Companies, is one of the leading power producers with plant facilities in Cebu, Iloilo, Aklan and Oriental Mindoro.