THE Philippine Economic Zone Authority (PEZA) and Razon-owned Primelectric Holdings Inc. have signed a memorandum of understanding (MOU) to explore the possible development of electricity distribution systems within economic zones administered by the investment promotion agency.
The agreement was signed on Tuesday by PEZA Director General Tereso Panga and Primelectric President and CEO Roel Castro.
PEZA will be responsible for identifying priority ecozones for development while Primelectric will conduct feasibility assessments and evaluate the operational viability of establishing power distribution systems in the identified areas.
PEZA said Primelectric would be bringing its power distribution experience to the partnership, particularly through its subsidiaries MORE Electric and Power Corp., Negros Electric and Power Corp. and Bohol Light Co. Inc.
The collaboration is also expected to support PEZA efforts to ensure that its economic zones are equipped with infrastructure needed by investors.
“[B]y 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,” Panga said.
