MORE Power clarifies Ceneco joint venture

By Eugene Y. Adiong

May 11, 2023 12:04 am

BACOLOD CITY: 'We are not taking over the Central Negros Electric Cooperative (Ceneco),' Roel Castro, president and chief executive officer of MORE Power, said.

Castro, in a press conference on Tuesday, said under the proposed joint-venture agreement (JVA) MORE Power will acquire 70 percent of Ceneco's assets while the former will retain 30 percent under a new company that will operate the electric cooperative.

JVA BRIEFING Roel Castro, president and chief executive officer of MORE Power, gives a briefing to Gov. Eugenio Jose Lacson, Vice Gov. Jeffrey Ferrer and other stakeholders regarding the joint venture agreement with Ceneco. PHOTO BY EUGENE ADIONG

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