Empowering national development with viable energy base

The Philippines was able to achieve investment grade status on the back of its growing business process outsourcing industry and regular inflow of overseas remittance money. However, to realise its trajectory of being the new Asian tiger economy, basic infrastructure, such as electricity, has to be in place. Expensive utility rates are seen to affect the anticipated surge in foreign direct investments.

Global Business Power Corp (GBP) has witnessed how the expansion of its generation capacity in the last seven years has boosted economic growth by some 50 per cent in the Visayas region, where GBP is now the leading power generation company. This marks a 9 per cent rise against the national average of 6.3 per cent in the last five years. 

"Power is the lifeblood of progress," says chairman Francisco Sebastian. "Sufficient, reliable and cost-efficient power is key to boosting economic growth. Our company's mission is to raise the quality of life by providing stable, adequate and reasonably priced electricity to the community." 

To achieve this, GBP recognises the importance of adhering to and practising its core values of integrity, excellence and responsible citizenship. 

GBP sees these values translating into less damage to the environment, consistent and reliable energy supply for industries, and therefore cost efficiency and better returns to stockholders, employees and customers.

After the sale of its stakes to Meralco PowerGen and Japanese firm ORIX, GBP has gained financial and technical benefits such as distribution utility competency, expansion of its power generation base and assured power supply sufficiency.