Primelectric Holdings Inc., owned by businessman Enrique Razon Jr., is seeking further expansion, this time through a deal to explore building power distribution systems within economic zones.
The company and the Philippine Economic Zone Authority (Peza) inked a memorandum of understanding for this move, envisioned to beef up power networks within the selected areas.
Under the pact, Peza would determine the priority ecozones, while Primelectric would evaluate whether the power firm could build distribution infrastructure through More Electric and Power Corporation, Negros Electric and Power Corporation, and Bohol Light Company, Inc.
‘Energy reliability is no longer just a utility concern – it is an investment concern… and by working with an experienced distributor like Primelectric, we are not just securing our own zones, we are also contributing to the bigger national goal of a more resilient and reliable power system, wherever in the country our ecozones may rise,’ Peza director general Tereso Panga said in a statement Friday.
‘We want investors to know that by the time they are ready to commit, power will be one less question they need to ask,’ the official added.