Araneta Group, one of the country’s oldest and diversified conglomerates, tapped energy provider First Gen Corp. of the Lopez Group to supply renewable energy to Ali Mall in Quezon City.
Araneta City Inc., the Araneta Group’s property arm, reached an agreement with First Gen subsidiary Bacman Geothermal Inc. to supply Ali Mall with 2.1 megawatts of power.
“We at First Gen are happy that the Araneta Group has accepted our offer to be a partner in the task—even if daunting—of reducing the buildup of more heat-trapping carbon dioxide in the atmosphere,” said First Gen Vice president for marketing Carlo Vega.
BGI, a licensed retail electricity supplier, will provide Ali Mall with power from the 132-MW Pantabangan-Masiway hydroelectric power plant in Nueva Ecija. First Gen Hydro Power Corp., another subsidiary of First Gen, owns and operates the hydro plant.
“We commend the Araneta Group at the same time for their support in adopting renewable energy,” Vega said.
