Day: November 19, 2013

MANILA, Philippines – A Brown Co. Inc. (ABCI), through its wholly-owned subsidiary PeakPower Energy Inc., has entered into an agreement with a South Cotabato electric cooperative for the construction and operation of a bunker-fired power plant in the province.

In a disclosure to the Philippine Stock Exchange, A Brown said it has entered into a power supply and transfer Agreement (PSTA) with South Cotabato II Electric Cooperative Inc. (Socoteco II).

Under the agreement, Peak Power will build-operate and maintain-transfer a 20.9-megawatt bunker-fired power plant in the franchise area of Socoteco.

The project is part of the firm’s efforts to help address the power crisis in Mindanao, PeakPower president Roel Castro said.

“This decision to build power generation facilities is our way of contributing a solution to the power problem in Mindanao,” Castro said.

Socoteco, for its part, considered the project beneficial to its operations.

“We found the contract advantageous to the electric cooperative, given the reduction in our supply contracts with National Power Corp. (Napocor) and a huge peaking requirement,” said Socoteco II board president Elenito Senit.

The National Grid Corp. of the Philippines (NGCP), the operator of country’s power transmission highway, said the Mindanao grid currently has a generation deficiency of 170 megawatts.

ABCI hopes to assist power customers maintain their desired level of economic activities by putting up the needed power capacities especially during peak hours.

Socoteco supplies electricity to South Cotabato, Sarangani and Gen. Santos.

ABCI, meanwhile, is a publicly-listed corporation with major interest in real estate, infrastructure development, agribusiness and investments in listed companies.

Its subsidiary Palm Thermal Consolidated Holdings is the developer of the 135-MW coal-fired power plant project in the province of Iloilo.

PeakPower is ABCI’s newly incorporated subsidiary for its energy investments.

Aside from energy and its palm oil business, ABCI also owns Brown Resources Corp., which owns and operates hotels and apartments.

Source: https://www.philstar.com/business/2013/03/21/922108/brown-unit-inks-deal-socoteco

March 20, 2013 – A Brown subsidiary to put up power facility in Mindanao

Listed A Brown Co. Inc., through a wholly-owned subsidiary Peakpower Energy Inc., will put up a 20.9 megawatt power facility in Mindanao to serve the power needs of South Cotabato II Electric Cooperative Inc. (Socoteco II).

In a disclosure to the Philippine Stock Exchange, A Brown said it entered into a power supply and transfer agreement with Socoteco II last March 20 where Peakpower will build-operate and maintain-transfer the 20.9 MW bunker-fired power plant in the cooperative’s franchise area.

“This decision to build power generation facilities is our way of contributing a solution to the power problem in Mindanao,” said Peakpower president Roel  Castro in a statement.

A Brown, however, did  not disclose the rates it offered to Socoteco II or the cost of the diesel plant’s construction. Its officials could not be reached for comment as of posting time.

Last month, A Brown received approval from the Securities and Exchange Commission for the incorporation of Peakpower Energy for 40 million common shares , representing 100 percent of its outstanding capital stock.

Socoteco II welcomed A Brown’s offer “as a means of ensuring their peaking capacity requirements given the demand in their franchise area.”

“We found the contract advantageous to the electric cooperative, given the reduction in our  supply contracts with National Power Corp. and a huge peaking requirement,” said Elenito  Senit, Socoteco II board president.

Mindanao continues to be short of more than 250 megawatts as of Wednesday. Mindanao’s system capacity is only at 910 MW as against a system peak demand of 1,168 MW.

A Brown said that given the limited output of hydropower plants and the  reduced contract with Napocor, Socoteco II has been compelled to continue to implement a  four-hour rotational brownout, starting at 9 am to 9 pm daily.

It said that due to  the critical power situation in the area, the operations of businesses and industries are greatly affected.

“ABCI will assist in enabling power customers maintain their desired level of economic  activities by putting up the needed power capacities especially during peak hours,” A Brown said.

Socoteco II supplies electricity to  SoCSarGen (South Cotabato, Sarangani & General Santos), which has continuously  moved up the economy ladder due its rich agro-industrial base and natural tourist attractions.

A Brown, meanwhile, is a publicly-listed corporation since 1994 with major interest in real  estate, infrastructure development, agribusiness and investments in listed companies. Through its subsidiary Palm Thermal Consolidated Holdings, it is the developer of the 135-MW  coal-fired power plant project in Iloilo province.

Source: https://www.gmanetwork.com/news/story/300170/economy/business/a-brown-subsidiary-to-put-up-power-facility-in-mindanao

The much awaited launching of Block 17 as the famed Golfers’ Lane by the A Brown Company Inc. (ABCI) will take place this coming Saturday, March 02, 2013 at Brgy. Bonbon, Butuan City.

Equipped with top-of-the-line amenities, the ongoing golf course development is part and parcel of the innovation of the project West Highlands, a golf and residential estates in Butuan City.

Moreover, it will be the very first 9-hole public golf course in the whole Caraga Region.

DOT Caraga has been engaged in marketing and promotions for sports tourism as another product. This is expected to create significant opportunities to generate substantial revenues for the golf and boost the tourism industry in Butuan City.

ABCI is a publicly listed company engaging in real estate development business. It is famous in Cagayan de Oro City as the developer and proprietor of Xavier Estates, a high-end Class A residential subdivision. Other premier projects include the Teakwood Hills and Ventura Residences in Cagayan de Oro, Valencia Estates and Mountain Pines Farm in Bukidnon, and the latest, the West Highlands in Butuan City.

Source: https://dotcaraga.ph/region/sports-tourism-to-boost-with-the-launching-of-golfers-lane-in-butuan-city/

A Brown Company, Inc. announced the incorporation of Peakpower Energy, Inc.. The Company will be subscribing to 40 million common shares of Peakpower, representing 100% of its outstanding capital stock. The activities of Peakpower are to purchase, acquire, own, and hold, shares of stock, equity, rights, and property of energy companies, firms, associations, or corporations and other personal properties as may be necessary or incidental to the conduct of the corporate business, and to pay in cash, shares of its capital stock, debentures and other evidences of indebtedness, or other securities, as may be deemed expedient, for any business or property acquired by the corporation and to provide management services and/or shared services to its subsidiaries and affiliates or to third parties engaged in the energy business.

Source: https://www.reuters.com/finance/stocks/BRN.PS/key-developments/article/2692617

MANILA – The Ayala Corp. and A. Brown Company, Inc. on Tuesday broke ground for their clean coal power plant in Brgy. Nipa, Concepcion, Iloilo.

The power plant is a project of Ayala Corp.’s AC Energy Holdings, and A. Brown and its subsidiaries, namely Palm Thermal Consolidated Holdings Corp., Palm Concepcion Power Corp. and Panay Consolidated Land Holdings Corp.

“The power plant will use the circulating fluidized bed combustion (CFBC) technology which is one of the most advanced and most fuel-efficient plant in the Visayas,” Roel Z. Castro, president and chief executive officer at Palm Concepcion Power Corp., said in the statement.

“It will use the latest Alstom Technology (Europe) for its steam turbine and generator,” he added.

The project is expected to help ease the expected tight power supply situation in Panay and the Visayas grids by 2015.

Source: https://www.abs-cbnnews.com/business/01/15/13/ayala-brown-break-ground-iloilo-power-plant