Maharlika to invest in Palawan energy sector

The MIC and the National Electrification Administration inked a memorandum of understanding yesterday to improve the power infrastructure of Palawan Electric Cooperative .MANILA, Philippines — State-run Maharlika Investment Corp. is investing in the energy sector in Palawan to help boost tourism and further unlock the province’s economic potential.

“This MOU would trigger a feasibility study and also technical studies to be undertaken. Then we will be able to determine how much exactly we would need to invest,” Consing said. NEA administrator Antonio Almeda said MIC’s planned investment would improve electricity in Palawan, both in quantity and in service.

The partnership is also part of NEA’s thrust to expedite the 100 percent total electrification in the country. “We view this project as a prime example of our commitment to this strategy, confident that it will deliver both strong financial returns and significant social impact,” he said.

Source: News Formal (newsformal.com)

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