Razon Eyes Electrification of Economic Zones

MANILA, Philippines — Primelectric Holdings Inc., led by billionaire Enrique Razon Jr., is targeting a stronger presence in the power sector with a potential deployment of electricity distribution networks in economic zones. The company and the Philippine Economic Zone Authority (Peza) inked a memorandum of understanding for this move, envisioned to beef up power services in selected areas. READ: Ecozones bank on green power to lure locators The agreement was signed by Peza director general Tereso Panga and Primelectric president and CEO Roel Castro. Under the pact, Peza will determine the priority ecozones, while Primelectric will evaluate whether the power firm could build distribution infrastructure through More Electric and Power Corp., Negros Electric and Power Corp. and Bohol Light Company Inc. READ: LNG supply eyed for Calabarzon ecozones “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,” Panga said in a statement Friday. The agency said the partnership would ensure the ecozones, designated hubs that help drive foreign investments through incentives, are equipped and ready to accommodate the market’s growth. INQ