A financing Company Owned by the Electric Cooperatives
REFC Board approves SULECO’s Commodity Loan
The Board of Directors of Sulu Electric Cooperative, Inc. (SULECO) passed a resolution with BR No. 07, Series of 2017, authorizing Management to avail of a Commodity Loan from the Rural Electrification Financing Corporation (REFC) for the acquisition of a Thermal Imager thru REFC’s wholly owned subsidiary, the Rural Electrification Trading Corporation (RETC). The purpose of the acquisition of this device is to put action on the coops program of reducing their systems losses, by determining hot spots in the distribution lines and equipment in the coop’s coverage area.
Upon the recommendation of the Loans and Credit Committee, the REFC Board unanimously approved the Commodity loan of SULECO for the acquisition of a Thermal Imager.
“This initiative of the Board and Management of SULECO will not only reduce its systems losses but also improve its electric service reliability, just like those ECs who are currently using similar equipment”, said Board President, Iglorio R. Hinayon.