Socoteco 2 Members Approve Joint Venture With Ignite Power to Modernize South Cotabato Electric Grid

 

Socoteco 2 Secures Member Backing for Ignite Power Partnership to Upgrade Aging Electric Network

The effort to transform the power distribution network serving thousands of consumers in South Cotabato, Sarangani, and General Santos City has reached a significant milestone after members of the South Cotabato II Electric Cooperative (Socoteco 2) overwhelmingly endorsed a proposed partnership with Ignite Power.

During the cooperative's annual general membership assembly, more than 32,000 member-consumer-owners voted in favor of the Conditional Joint Venture Agreement (CJVA). The endorsement gives the cooperative's leadership the authority to proceed with a board resolution allowing Socoteco 2 to formally enter into the agreement.

The proposed collaboration is designed to confront years of operational and financial constraints that have limited the cooperative's ability to modernize its infrastructure. Aging distribution facilities often require substantial investment to improve reliability, reduce outages, and meet increasing electricity demand. Without sustained capital, these upgrades can be difficult for electric cooperatives to undertake independently.

Socoteco 2 Board President Elenito Senit said the partnership represents a practical path toward addressing these long-standing challenges. By attracting private investment, the cooperative aims to accelerate the rehabilitation of its electrical system while strengthening its overall distribution network.

If implemented, the modernization program is expected to enhance service reliability for consumers by replacing outdated equipment, improving system efficiency, and reinforcing the grid against future demand. Much like replacing an aging road network with stronger, wider highways, upgrading the distribution system can allow electricity to move more efficiently and with fewer disruptions.

The investment will come from Ignite Power, a joint venture between Primelectric Holdings, led by businessman Enrique Razon Jr., and MP Holdings, chaired by boxing icon and businessman Manny Pacquiao. The company is expected to inject fresh capital that will finance critical infrastructure improvements across Socoteco 2's service area.

Socoteco 2 supplies electricity to communities across portions of South Cotabato, Sarangani Province, and General Santos City. The proposed joint venture is viewed as a strategic initiative to position the cooperative for long-term operational stability while delivering more dependable power service to the consumers it serves.