Citicore Energy Solutions Inc., the retail electricity supply arm of renewable energy company Citicore Power Inc., signed its first retail power agreement with Citystate Centre Condominium Corp.
Under the contract, CESI will deliver 2.61 megawatts of sustainable energy to Citystate starting Aug. 26.
“Being a newcomer in the industry, we have already achieved significant milestones. This is a momentous occasion because this is our first retail supply agreement to a contestable customer. We thank Citystate for the trust and the opportunity to partner with us, and we hope to strengthen this partnership in the coming years,” CESI president Manolo Candelaria said.
Retail competition and open access, as mandated by the Electric Power Industry Reform Act of 2001, enables large electricity consumers in Luzon and Visayas with an average monthly peak demand of at least one megawatt to have the option to seek their own power suppliers.
“Hopefully, it is the first of a series of relationships that we will be doing. For us, we believe renewable energy, particularly solar energy, is the way to go for our projects. I think this is more than a start of something good for us,” Citystate president Jesus Antonio Cabangon Jr. said.