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Oakridge renews energy supply deal with PRISM

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Cebu-based developer Oakridge Realty Development Corp. (ORDC) has renewed its energy supply contract with PRISM Energy Inc. for another two years.

Under the contract, PRISM will supply Oakridge with 1.5 megawatts (MW), or up to 26,280 MWh, of electricity.

Oakridge operates the four-hectare Oakridge Business Park along A.S. Fortuna St. in Mandaue City, which consists of information technology buildings, retail outlets, and event venues.

PRISM, on the other hand, is a joint venture between AboitizPower and Vivant Corporation which serves contestable customers in Cebu.

The new contract was signed on August 13, 2019 at the Oakridge Executive Club. ORDC first entered into a power supply agreement with PRISM Energy in 2017.

“We thank Oakridge for believing in our expertise and look forward to giving them a competitive advantage through the supply of dependable and adequate electricity,” said Juan Alejandro A. Aboitiz, AboitizPower First Vice President for Energy Trading and Sales.

The Oakridge Business Park currently consists of Oakridge IT Center 1, 2, and 3; Oak Tree and Oak Tree 2; Block Eighty-eight (88); Oakridge Pavilion; Oakridge Horizons; and Oakridge Executive Club.

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The Oakridge IT Centers are special IT ecozones registered with the Philippine Economic Zone Authority (PEZA) and houses IT companies.

OITC 1 is a three-story building with about 7,500 square meters of leasable space while OITC 2 is a 12-story building with nearly 14,000 square meters of leasable space.

The latest, OITC 3, provides an additional 14,000 square meters of leasable space to the group’s office portfolio.

Block 88 is a five-story structure that houses the Rustans Supermarket, fitness and wellness centers, and office spaces. The Pavilion and Horizons are both event venues.

AboitizPower and its partners, meanwhile, have a net sellable capacity of 4,471 MW from renewable energy and thermal power plants across the country. (Ventures Cebu)

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