State-run National Power Corp. (NPC) will give renewable energy company Emerging Power Inc. a subsidy for providing geothermal power in the province of Mindoro, it was learned Friday.
The amount was not disclosed, but it will come from the Universal Charge for Missionary Electrification (UCME) fund, a provision under the Electric Power Industry Reform Act (EPIRA) designed to ensure the delivery of reliable electricity to marginalized areas and those that are not connected to the main grid.
EPI is getting the subsidy after it recently started construction of its geothermal power plant in Mindoro and signed a power supply agreement with two electric cooperatives in the province.
