ADB Signs Geothermal Power Supply Deal With Aboitiz Unit (Business Mirror)
On Thursday the Asian Development Bank (ADB) announced it has signed a geothermal power supply agreement with Aboitiz Power Corp.’s retail electricity supplier, AdventEnergy Inc.
Through the agreement, ADB will be purchasing electricity requirements from AdventEnergy instead of Meralco. However, the electricity to be supplied to ADB will still go through Meralco’s distribution network.
By signing the contract, the ADB headquarters will be powered by 100-percent renewable energy generated by geothermal facilities in Tiwi, Albay and in Makiling-Banahaw in Laguna, in addition to existing on-site solar power-generation equipment.
Under the supply contract with AdventEnergy, ADB said it will purchase an average of 1.5 million kilowatt-hours (kWh) a month.
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