Semirara, Meralco sign supply accord

Sem-Calaca Power Corp., a wholly-owned subsidiary of Semirara Mining and Power Corp., and Manila Electric Co., through its local retail electricity supplier, signed a purchase agreement covering up 420 megawatts of power supply.

Semirara Mining and Meralco issued separate disclosures of the agreement with the Philippine Stock Exchange on Friday.

The power supply agreement covers 10 years from June 26, 2019 up to June 25, 2029, “which may be extended up to four years upon mutual agreement of the parties covering a total capacity of 420 MW.”

Sources said MPower, Meralco’s local RES MPower signed the agreement. Meralco is the country’s biggest power distributor.