Independent power producer Global Business Power Corp. (GBP) and property developer Robinsons Land Corp. signed an energy supply deal shopping malls in the Visayas.
GBP will supply 22 megawatts of power for the benefit of Robinsons malls in Bacolod, Dumaguete, Tacloban, Roxas, Iloilo, and Cebu.
GBP President Jaime Azurin said the deal highlights their commitment to support the economy, as both entities explore opportunities for growth in servicing fast-growing cities.
Robinsons Land President Frederick Go said the supply deal will help the property developer meet its energy needs.
The power supply agreement is in line with the retail competition and open access (RCOA) scheme outlined in the Electric Power Industry Reform Act (EPIRA) of 2001, enabling contestable customers, or end users that may pick their own supplier.
However, the Supreme Court issued a temporary restraining order to stop the implementation of RCOA rules.
The Energy Regulatory Commission (ERC) filed last month an appeal to lift the temporary restraining order on the scheme, but the high court has yet to decide on the matter.
GBP, the retail energy unit of Global Energy Supply Corp., owns power facilities in Cebu, Iloilo, Aklan, and Mindoro.
The company recently acquired a 50 percent interest in Alsons Thermal Energy Corp., and is now developing a coal-fired power facility in La Union with two 335 MW generating units.
Alsons Thermal is the holding firm of Alsons Consolidated Resources Inc. for baseload coal-fired power plants.