NextGen Day

The Peninsula Electric Cooperative, Inc. (PENELCO) has expanded the types of energy it uses to supply its franchise areas, including solar energy, which it now accesses through a subsidiary of the renewable energy company Alternergy Holdings Corp.

According to a statement released by Alternergy on Tuesday, Solana Solar Alpha, Inc., a subsidiary of the company, has signed a power supply agreement (PSA) with PENELCO to provide 10 megawatts (MW) of renewable energy from the projected Solana solar power plant in Hermosa, Bataan.

By the middle of 2023, Solana Solar will begin providing PENELCO with green energy under a long-term 20-year contract.

“We’re thrilled to be working with PENELCO. According to Alternergy President Gerry Magbanua, the Solana solar project provides a long-term and sustainable solution for PENELCO to meet its power supply needs.

According to Magbanua, this collaboration supports President Ferdinand “Bongbong” Marcos Jr.’s initiative to exploit renewable energy sources.

“The Solana solar project’s renewable energy would lessen PENELCO’s reliance on power supply derived from imported fossil fuels,” he stated.

Peak demand for PENELCO in 2021 was 119 MW, with a 4.4 percent annual growth demand forecast.

Additionally, PENELCO predicts that using the Solana solar power project in Hermosa will save the distribution utility PHP90 million every year.

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