INTERNATIONAL CONTAINER Terminal Services, Inc. (ICTSI) has started sourcing renewable energy (RE) for its Mindanao Container Terminal (MCT) operations, the Razon-led company announced on Tuesday.
“The Mindanao Container Terminal is a key gateway for the region, and reducing carbon emissions from our operations aligns with ICTSI’s broader environmental objectives,” MCT President and General Manager Aurelio C. Garcia said in a media release.
MCT, ICTSI’s business unit at the Port of Cagayan de Oro, now operates exclusively on solar energy during daylight hours.
The transition to renewables began on Feb. 14, ICTSI said, adding that power is supplied by PrimeRES Energy Corp. under the government’s Retail Competition and Open Access (RCOA) framework.
PrimeRES Energy Corp. is a retail electricity supplier focused on transformative investments and partnerships with private distribution utilities and electric cooperatives.
RCOA introduces competition in the energy sector, allowing contestable consumers — those with an average monthly consumption of at least 500 kilowatts — to choose their electricity suppliers.
ICTSI said MCT will also diversify its power sources by drawing electricity from PrimeRES’s supply portfolio, including the Wholesale Electricity Spot Market, at night.
“This hybrid solution maximizes the use of renewable energy while maintaining operational stability,” ICTSI said.
In December last year, ICTSI, through its unit Mindanao International Container Terminal Services, Inc. (MICTSI), secured a 25-year contract extension to operate and maintain MCT until 2058.
MCT previously announced plans to invest approximately $100 million in infrastructure upgrades, including berth expansion and new equipment acquisitions to increase the terminal’s capacity.
At the local bourse on Tuesday, ICTSI shares declined by 0.12% to P340 apiece. — Ashley Erika O. Jose
