RAZON-LED Prime Infrastructure Capital, Inc. (Prime Infra) said on Tuesday that its wholly owned subsidiary has secured a retail electricity supplier license from the Energy Regulatory Commission (ERC).
With the license, PrimeRES Energy Corp. will be able to enter into retail electricity supply agreements with large electricity end-users, its parent company said in a statement.
Large electricity end-users include contestable customers with an average monthly peak demand of 500 kilowatt and is a participant in the Retail Competition and Open Access (RCOA) scheme.
PrimeRES received its license after complying with the technical, financial, and administrative requisites which “proves its competence to operate and sell electricity to end-users under the RCOA,” Prime Infra said.
The company said that PrimeRES will source the power it will sell from affiliate and non-affiliate firms, including a portion of Prime Solar, another subsidiary of Prime Infra, and other future development projects.
Prime Solar has a 128-megawatt capacity of renewable energy from its solar in Tanauan, Batangas and Maragondon, Cavite.
“Part of our commitment in delivering socially relevant infrastructure is providing dependable energy that is accessible and affordable to people,” Prime Infra President and Chief Executive Officer Guillaume Lucci said.
“Through PrimeRES, we will be able to bring added value to our customers as they choose and negotiate their preferred retail electricity suppliers,” he added.
Prime Infrastructure said that Prime-RES also aim to support the electricity needs of other companies within the Razon Group with businesses in the areas of utilities, ports, construction, hospitality, and consumer services.
Another Razon-led company Manila Water Co., Inc. said that its P271-million Kalayaan sewer projects are expected to serve more than 1,000 households in the east zone of Metro Manila.
The 1.95-kilometer Kalayaan Sewer Replacement Package 2 with an allocated budget of P113 million was completed in February and is said to serve over 600 households.
The 3.23-kilometer Kalayaan Sewer Replacement Package 3, which has an allocation of P158 million, is slated for completion in the second quarter of 2024 to serve more than 800 households.
“These projects on sewer line enhancements form part of Manila Water’s big push to protect community health and promote environmental sustainability. By expanding and upgrading our wastewater services, we lessen our environmental impact,” Manila Water Corporate Communications Affairs Director Jeric T. Sevilla said.
With the recent acquisition of Prime Infra’s subsidiary Trident Water Co. Holdings, Inc. of Ayala Corp.’s remaining stake in Manila Water, Prime Infra has committed to strengthen the growth and expansion trajectory of the water utility firm. — Sheldeen Joy Talavera
