BACOLOD CITY, March 3 (PNA) — The Metro Bacolod Chamber of Commerce and Industry (MBCCI) expressed support to the move of Central Negros Electric Cooperative (CENECO) giving extension to the delivery date of Energreen Power Development and Management Inc. until May 2015.
Energreen Power will operate an 18.9-megawatt diesel-fired power plant in Barangay Calumangan, Bago City through its project company Central Negros Power Reliability Inc.
“It’s a good move that the board decided not to rescind the power contract or else it would send a bad signal not only to power investors, but to other potential investors as well,” MBCCI president Frank Carbon said.
He said that Energreen’s investment in the province is huge.
“This is only the second power producer that is imbedded in the province, the first one is a solar power plant in San Carlos City,” Carbon said.
He had earlier said the company’s total project cost in the province is about P900 million and they have already brought in an initial investment of P750 million, including five generator sets.
Carbon said that “hopefully by March, Energreen would be able to deliver to CENECO even replacement power only on the price that won’t exceed (what was stated) in the contracted price.”
Atty. Ernesto Tabao, counsel for Energreen, confirmed that CENECO gave his client until May this year to deliver the contracted power of 18 megawatts.
Energreen will deliver power on a staggered basis from March until May 2015, he said.
The mere fact that CENECO extended the contract shows it understood the conditions that caused the non-delivery of power, Tabao said.
He had earlier cited force majeure as the reason Energreen was not able to deliver the contracted power supply on February 26.
“At the same time, CENECO might have acknowledged that despite the non-delivery of Energreen of the contracted power under the stipulated time, Energreen proposed to deliver a replacement power so that they can have a supply in case they need it. However, CENECO refused it because they didn’t need a replacement power that time,” the lawyer said.
Tabao added: “We have given new delivery dates where I am sure we can already deliver the power supply. It starts this month, then in April, and in May 2015 which is already the full delivery.” (PNA)