A consortium led by billionaire Enrique Razon Jr. and former senator Manny Pacquiao is moving forward with plans to take over the operations of South Cotabato II Electric Cooperative (Socoteco 2), according to a report by Philstar Biz. The group aims to rehabilitate the cooperative’s aging distribution network and improve power reliability in the province.
The proposed partnership would follow a joint-venture structure under Republic Act No. 10531, which allows electric cooperatives to engage private partners to inject capital and technical expertise. The Razon-Pacquiao group has already submitted a formal expression of interest to the National Electrification Administration (NEA) and the Socoteco 2 board.
If approved, the modernization effort could address frequent power interruptions and system losses in South Cotabato, benefiting thousands of member-consumers. The deal also marks one of the highest-profile private-sector interventions in a rural electric cooperative, blending Razon’s infrastructure expertise with Pacquiao’s political influence in the region.