Filinvest’s power unit, Apex renew supply agreement

January 8, 2019
by Filinvest Development Corporation

FDC Misamis Power Corp. of the Gotianun Group and Apex Mining Corp. renewed their electric power purchase agreement covering five megawatts for another five years. FDC Misamis, a wholly-owned unit of FDC Utilities, Inc., a unit of Filinvest Development Corp., will remain the exclusive power supplier of Apex Mining in its processing plant in Masara, Maco, Compostela Valley province.

“Our first two years with Apex Mining has been a very good experience and we are very happy to renew this power supply agreement with Apex. We are proud to be the provider of Apex Mining as we deliver reliable and of course cheap source of power, so more years to go for Apex and FDC Misamis,” said FDC Misamis president and chief executive officer Juan Eugenio Roxas.

The new power agreement took effect on December 26, 2018 and and ends in 2023.
FDC Misamis, operator of the 3×135-MW coal thermal plant in Villanueva, Misamis Oriental province, will provide Apex Mining 4 MW of power supply in the first two years, from 2019 to 2020. The supply will increase to 5 MW in 2021 to 2023.

FDC Misamis, one of Mindanao’s biggest power generators, has been the supplier of Apex Mining since the former started commercial operations in 2016 under a two-year, 3-MW power deal that ended late December last year.

“The decision of Apex Mining in renewing their power contract with us is a clear manifestation that the said company has both the trust and confidence with FDC Misamis. We, therefore, value their trust and we assure not just Apex Mining but the rest of our customers in Mindanao that we will continue to better our service in delivering not just reliable but likewise affordable power to all Mindanaoans,” Roxas said.

Apex Mining was represented by president and chief executive officer Dr. Walter Brown during the signing of the agreement.

“It’s very pleasant doing business with FDC Misamis. I hope that we will have more partnerships,” Brown said.

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