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Homegrown developer Oakridge renews with AboitizPower
August 14, 2019
Poised for more robust growth this year, Cebu-based developer Oakridge Realty Development Corp. (ORDC) has renewed its partnership with AboitizPower for the supply of reliable and ample electricity to its facilities.
During a ceremonial signing event on Tuesday, August 13, at the Oakridge Executive Club in Mandaue City, Cebu, ORDC entered into an agreement with PRISM Energy, Inc. to supply 1.
5 MW of electricity to its buildings in the next two years. PRISM Energy is a joint venture between AboitizPower and Vivant Corporation that actively serves contestable customers in Cebu.
With this development, ORDC is now assured of up to 26,280 MWh of energy to support its expansion for the duration of the contract.
ORDC first entered into a power supply agreement with AboitizPower in 2017 through PRISM Energy, Inc., the power provider’s joint venture with Cebu-based Vivant Corporation. This partnership came at the height of the expansion of ORDC’s flagship project, the Oakridge Business Park, which aims to reinforce the company’s commitment to providing a well-balanced work-play environment for its office and retail clients.
ORDC’s flagship is the Oakridge Business Park, which is an open, landscaped, and strategically-located four-hectare property along A.S. Fortuna Street in Mandaue City that hosts various information technology centers, retail outlets, and event venues.
Oakridge Business Park is a sanctuary within the city with amenities set in refreshing green and open spaces that is distinctly Oakridge.
The developer recently unveiled its third office building in Oakridge Business Park, the Oakridge IT Center (OITC) 3, adding another 14,000 square meters of leasable space to the group’s office portfolio.
Juan Alejandro A. Aboitiz, AboitizPower First Vice President for Energy Trading and Sales, recognized the rapidly growing real estate industry not only in Cebu but across the whole country, citing the need for local developers to seek ways to gain an advantage over other players.
“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,” he said.
With its portfolio of renewable energy and thermal power plants located all over the country, AboitizPower, together with its partners, currently has a net sellable capacity of 4,471 MW.