AdventEnergy, the retail electricity supply arm of Aboitiz Power Corporation (AboitizPower), agreed to aggregate and supply clean power to 153 branches of China Banking Corporation (Chinabank), the fourth largest private universal bank in the Philippines.
More than 30% of the bank’s branch network across Bulacan, Cavite, Laguna, and Metro Manila will be supplied primarily with 2 megawatts of renewable energy, marking one of the biggest partnerships of a retail electricity supplier and a banking institution to date.
The partnership also extends a long-standing relationship between AdventEnergy and the SM Group, which holds majority ownership of Chinabank, aligning with the latter’s broader sustainability and strategic energy contracting efforts to advance its sustainability goals.
The aggregation of power demand was made possible through the Energy Regulatory Commission’s (ERC) Retail Aggregation Program (RAP), which allows eligible businesses and institutions to pool the demand of multiple facilities and participate in the competitive retail electricity market.
“In line with our commitment to support the development of renewable energy projects in the country, Chinabank believes that its own operational electricity should be sourced from renewable alternatives whenever possible,” said Chinabank President and Chief Executive Officer Romeo D. Uyan, Jr.
“Our partnership with AdventEnergy enables us to secure clean energy, reduce our carbon footprint, and actively build a more sustainable future.”
Amidst volatile global fuel costs, the retail aggregation supply deal not only supports the bank’s sustainability initiative but also allows for cost-saving measures and more predictable financial planning.
“AdventEnergy intends to deliver integrated and sustainable energy solutions that are always-on, always reliable, and always ready to meet the needs of the industries we serve,” said AdventEnergy Vice President for Retail Energy Sales and Services Catherine Del Villar-Pasilaban.
The deal also reflects the continued expansion and adoption of the ERC’s customer choice programs, complementing the recent implementation of Phase IV of retail competition and open access (RCOA), which lowered the contestability threshold from 500 kilowatts in monthly peak demand to just 100.
AdventEnergy continues to support these programs especially for a wider base of Philippine businesses, including those in critical sectors such as banking and finance.
“As contestability thresholds continue to lower under the ERC’s programs, and more eligible customers are able to enjoy the power of control and choice, we want to be the partner that institutions can count on to navigate this shift with confidence,” said Del Villar-Pasilaban.
AdventEnergy already powers SM Group’s diverse operations – from malls, banks, schools, and retail establishments to its affiliated companies – through a comprehensive suite of energy solutions aligned with the Electric Power Industry Reform Act’s (EPIRA) customer choice initiatives including distributed energy resources, RCOA, and RAP.
