By Leslie D. Venzon
MANILA, Nov. 26 (PNA) — Listed Energy Development Corp.’s (EDC) subsidiary concluded on Wednesday the execution of an agreement for the supply of electricity to the Manila Electric Company (MERALCO) for the next five to seven years.
In a disclosure to the Philippine Stock Exchange (PSE), EDC said the agreement forged between Bacman Geothermal Inc. (BGI) and MERALCO, the country’s largest distribution utility, shall be submitted to the Energy Regulatory Commission for approval.
“Pursuant to the agreement, BGI shall supply MERALCO with 50 MW (megawatts) of power from the Bacman Power Plants over a term of five years extendible by an additional two years,” it said.
BGI owns and operates the Bacon-Manito (BacMan) geothermal power plants located in Bacon, Sorsogon. (PNA)