Aboitiz unit OKs power supply deal with Meralco
MANILA, Philippines - Aboitiz Power on Tuesday said its subsidiary Therma Mobile Inc. has approved its power supply agreement with Manila Electric Company (Meralco).
With the board's approval, Therma Mobile can sign the agreement with Meralco for the supply of up to 234 MW of Therma Mobile's capacity.
The deal will still have to be approved by the Energy Regulatory Commission (ERC).
"Power delivery will commence upon approval by the ERC and continue until June 2017," Aboitiz Power said in a disclosure to the stock exchange.