Press Release January 8, 2014
BUSECO, Sun Asia Energy Inc. signs
2-MW Power Supply Agreement
The Bukidnon Second Electric Cooperative, Inc. (BUSECO) is sincere on its endeavor of delivering sufficient and reliable power supply to its Member Consumer Owners (MCOs). With the apparent power crisis in the island of Mindanao and with the declaration of power insufficiency by the Power Sector Asset and Liabilities Management (PSALM), BUSECO felt the pressing need to look for power supplier that can cater the power requirement of the cooperative at a reasonable rate.
BUSECO, Sun Asia Energy Inc. signs 2-MW Power Supply Agreement
On January 7, 2014, BUSECO signed Power Supply Agreement (PSA) with Sun Asia Energy, Inc. at Pine Grove Mountain Nature Park, Dahilayan, Manolo Fortich, Bukidnon. Among of the significant features of the PSA are: the Solar power plant will be installed at strategic location within the franchise area of BUSECO in Northern Bukidnon; the total capacity is 2 MW with a tariff rate of PhP 9.50/kWh; the term of contract will be 25 years and will be transferred to BUSECO at the end of the term. The construction period of solar power plant is twenty one (21) weeks, hence, expected to be operational come third quarter of 2014.
PSA Signing between BUSECO represented by Board President Eligio C. David Jr. and Sun Asia Energy represented by President Ma. Theresa C. Capellan and with the presence of Cong. Edgardo Rama Masongsong – 1-CARE Partylist Representative
Present during the said contract signing were: President Eligio C. David, Jr.- Board President and Director for Malaybalay City, together with the Board of Directors: Director Charlie Castillanes, Director Edwin Galicia, Director Gloria Ranile, Director Alex Payangga and Director Francis Boniao along with Mr. Christopher A. Dulfo – Corporate Planning and Utility Economics Division, Ms. Gemmabelle Leoncio – Legal Officer, Ms. Melchie Nacalaban, Executive Secretary and Engr. Apple Teodeli Tindoc – Generation and Transmission Specialist. On the other hand, Sun Asia Energy, Inc. was represented by its President, Ms. Ma. Theresa C. Capellan and Chairman, Noel M. Cariňo.
This is the second agreement signed in 2014. This aims to showcase BUSECO as the first Electric Cooperative in the Region if not in the Country to have an embedded Solar Power Plant.
With this breakthrough, BUSECO proves to still be the trend setter in the power industry. BUSECO is confident that this undertaking will be a great help in ensuring continuous power supply to its MCOs whilst stepping forward to be recognized as a World Class Organization.
Onwards and soar high BUSECO!
