ABOITIZ Power Corp. has turned over half a billion pesos of its energization fund to local government units to help them battle the coronavirus disease (COVID-19) and fast-track electrification projects.
The company has remitted P508.2 million under a Department of Energy program since last year, the company said in a statement on Wednesday.
“We are glad that these funds are now with our communities as these will ensure they have the resources to fund crucial projects in their areas,” Aboitiz Power President and Chief Executive Officer Emmanuel V. Rubio said.
“Recent developments have also allowed them to use these remittances specifically to bolster their campaign against COVID-19,” he added.
This requires generation companies to allot a centavo per kilowatt-hour of their earnings as aid to host communities’ electrification projects.
It allowed them in April to use the funds for local governments’ anti-coronavirus efforts. — Adam J. Ang
