CAGAYAN Holiday & Leisure Resort (CHLR) has tapped Citicore Power, Inc. (CPI) for the supply of renewable energy to its luxury resort and casino in Sta. Ana, Cagayan Province.
In a statement over the weekend, CPI said its retail electricity unit Citicore Energy Solutions, Inc. (CESI) signed the retail power supply contract with CHLR.
“We preferred Citicore Power as our Retail Electricity Supplier because they offer complete, customized and competitively-priced solutions,” Jack Yan, chief executive officer of CHLR, was quoted in the statement.
“In addition, partnering with Citicore gives us the opportunity to support the development of renewable energy and to help in reducing the impact of electricity generation on the environment,” he added.
CHLR is a locator within the Cagayan Special Economic Zone and Freeport.
CESI, a wholly owned subsidiary of CPI, supplies retail electricity through the Department of Energy’s (DoE) Retail Competition and Open Access (RCOA) scheme.
Under the RCOA, electricity consumers in Luzon and Visayas with an average monthly peak demand of at least 1 megawatt (MW) can choose their own electricity supplier.
“Retail energy supply is definitely being recognized now in many industrial and commercial facilities as this enables them to choose their own electricity providers that can support their companies’ economic and sustainability goals. And we see more opportunities in the retail market to further push renewable energy development,” CPI President Oliver Y. Tan said.
CPI is a purely renewable energy generation company with more than 160 MW of installed plant capacity and a pipeline of close to 300 MW under development and construction.
The company recently started development works for its first run-of-river hydro power plant in Echague, Isabela to address the thinning supply of Isabela I Electric Cooperative .
The project was awarded by the DoE last April. CPI holds its investment in renewable energy through its wholly owned subsidiary Citicore Renewable Energy Corp.
CPI also supplies power to the Ayala Group, Citystate Centre Condominium Corp., and Mactan-Cebu International Airport. — Janina C. Lim
