The Peninsula Electric Cooperative, Inc. has diversified its power sources to be distributed within its franchise areas. Alternergy Holdings Corp. now taps solar power through a unit.
Alternergy announced that Solana Solar Alpha, Inc., its subsidiary, has signed a power supply arrangement, with PENELCO for 10 megawatts of renewable energy. This agreement will be used to power the Solana solar power plant in Hermosa, Bataan.
Solana Solar will supply clean energy to PENELCO beginning in 2023. The long-term contract is for 20 years.
“We are excited to partner with PENELCO. The Solana solar project is a long-term and sustainable strategy for PENELCO in securing its power supply requirements,” Alternergy president Gerry Magbanua said.
Magbanua stated that this partnership supports President Ferdinand “Bongbong” Marcos Jr.’s goal to harness indigenous energy resources.
“The renewable power from the Solana solar project will reduce PENELCO’s dependence on the power supply using imported fossil fuels,” he said.
PENELCO’s peak demand in 2021 was 119 MW. The company projects a 4.4% annual growth.
PENELCO estimates that the distribution utility will save PHP90 million annually by sourcing power from Solana’s solar power plant in Hermosa.
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