9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON
1,036,281,485
11. Indicate the item numbers reported herein
N/A
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EEI CorporationEEI
PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C) Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
EEI Power Corp., BiotechJP inaugurate solar rooftop system for clean energy
Background/Description of the Disclosure
EEI Power Corporation, a subsidiary of Yuchengco-led EEI Corporation, joined BiotechJP in unveiling the completed installation of 83.2kWp solar rooftop system after five weeks of construction. Installed at BiotechJP’s facility in Tarlac, this will provide more than 3,000,000kWh of clean energy for up to 25 years with an estimated savings in power bills of about PhP17M for the same period. This would be equivalent to around 37,000 newly planted trees and 1,264,200 metric tons of carbon emission avoided.
The solar rooftop system includes 188 units of 455Wp Jinko monocrystalline solar panels and 1 x 80kVA Growatt inverter. This system is the initial phase of a total 190kWp system that can fit the available roof space of BiotechJP. The remaining system components are expected to be installed next year in time for the full operation of the Tarlac facility.
The commercial arrangement to operate the solar rooftop system is covered by a Solar Energy Generating System Lease Purchase Agreement between EEI Power and BiotechJP. This involves a monthly settlement based on actual solar production consumed by the facility at a discounted rate per kilowatt-hour (kWh) from the given month’s electricity rate of BiotechJP’s power utility. The contract is effective for 10 years, after which, ownership of the system will be transferred by EEI Power to BiotechJP at no cost.
BiotechJP produces “Echigo” Low protein rice, “Gohan Lite” Calorie reduced rice and “Insta Rice” ready-to-heat and ready-to-eat rice for the Philippine market using biotechnology. In September 2020, it opened its 5,000-sqm production plant in Central Techno Park, Tarlac City that can produce up to 20,000 rice packs daily.
EEI Power is a power generation and solutions provider of electrical equipment and services including solar rooftop installations for commercial and industrial establishments, as well as for residential customers. It is also engaged in the retail electricity supply through its wholly-owned subsidiary, EEI Energy Solutions Corporation.