Maharlika Corp., NEA And Palawan Coop To Strengthen Province’s Power Grid

The Maharlika Investment Corp. (MIC), National Electrification Administration (NEA), and Palawan Electric Cooperative (PALECO) have signed a Memorandum of Understanding (MOU) to undertake joint efforts aimed at strengthening Palawan's electric grid.

Under the MOU, the parties agreed to mutually provide technical assistance and share relevant data to address the issue. I Photo: Palawan Electric Cooperative Facebook

MIC President and CEO Rafael Consing Jr., NEA Administrator Antonio Mariano Almeda, and PALECO General Manager Rez Contrivida signed the MOU in simple ceremonies held at the NEA office in Quezon City.

The agreement seeks to stabilize the power supply in Palawan, which has been beset with rotational brownouts due to technical issues and power supply deficiency for years.

Under the MOU, the parties agreed to mutually provide technical assistance and share relevant data to address the issue.

“This agreement signifies our shared vision and commitment to empowering Palawan through strategic investments in its power infrastructure,” Consing declared, noting that the province is renowned for its burgeoning tourism industry, and stable electricity is needed for the local economy to expand.

“By investing in Palawan's grid development plan, MIC reaffirms its mandate to achieve an optimal rate of return on its investments while catalyzing socioeconomic advancement. We firmly believe that investing in critical utility infrastructure is an investment in the future, yielding dividends far beyond financial gains,” he added.

Consing mentioned that feasibility and technical studies would be conducted to determine the investment amount, with completion expected in the third quarter of the year.

For his part, Almeda noted, “This MOU between the parties will unite capabilities and resources to develop action plans and strategies ensuring energy security in Palawan province.”