PrimeRES Energy Corporation was established to help address the country’s growing demand for electricity services. Incorporated on April 13, 2022, PrimeRES aims to provide its customers and partners access to affordable and reliable power, tailored to meet their specific needs and business requirements.
PrimeRES aims to diversify Prime Infra’s footprint in the energy industry by entering the retail sector. This move allows Prime Infra to expand its customer base and transition the supply of electricity to its customers beyond distribution utilities, electric cooperatives, and the Wholesale Electricity Spot Market (WESM), into the more competitive Retail Electricity Suppliers (RES) market.
In response to the Retail Competition and Open Access, PrimeRES intends to offer contestable customers, including members within the Razon Group of Companies, with dependable power supply sourced from Prime Infra Group’s own blend of energy portfolio that includes solar, natural gas, and hydroelectric power.
PrimeRES was granted a Retail Electricity Supply (RES) License by the Energy Regulatory Commission on March 19, 2024. It is expected to commence commercial operations within the year, and is targeting a portfolio of approximately 200-megawatt of customer demand by 2027.
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