GENERAL SANTOS CITY(October 20) — A private power company is preparing to expand its footprint in Mindanao after securing strong support for a proposed joint venture with South Cotabato II Electric Cooperative (SOCOTECO II), pledging to modernize a distribution system serving General Santos City, Sarangani and South Cotabato.
The cooperative’s Overall Plebiscite Committee proclaimed the results on Sunday, reporting 137,978 votes in favor and 4,811 against the conditional joint venture agreement.
The affirmative votes represented 60.91 percent of the cooperative’s 226,534 eligible voters. A total of 142,789 valid votes were cast during four rounds of voting from September to October.
Ignite Power and Energy Holdings Inc., a subsidiary of Primelectric Holdings Inc., said the result would allow it to pursue improvements to SOCOTECO II’s financial and operational performance.
Primelectric president and chief executive officer Roel Z. Castro said the company plans to inject fresh capital, upgrade critical infrastructure and improve operational efficiency.
One of the venture’s key targets is to reduce system losses to 5.5 percent from 8.25 percent. System losses refer to electricity lost within the distribution system before it is billed to consumers. The agreement also provides SOCOTECO II with a 30-percent profit share.
Castro said the partnership would focus on strengthening the distribution network, improving customer service and meeting the growing electricity needs of households, businesses and industries.
The General Santos City Chamber of Commerce and Industry has backed the partnership, warning that unreliable electricity can threaten manufacturing operations, discourage investment and put jobs at risk. Concerns over tighter power supply amid El Niño add pressure on the region’s electricity sector.
For households and businesses, the stakes are practical: fewer interruptions, dependable service and a distribution network capable of meeting demand.
Ignite Power’s expansion plans now hinge on implementation. SOCOTECO II and its private partner will need to demonstrate progress toward the 5.5-percent system-loss target and show how their investments translate into more reliable electricity across the cooperative’s franchise area.
