First Gen Corp. said it will supply 6.7 megawatts of clean energy to property developer Megaworld Corp. for its four upscale township and office tower projects in Taguig City.
First Gen vice president Carlos Lorenzo Vega said the company would supply Megaworld with geothermal power specifically from the Tongonan power plant in Kananga, Leyte.
The Megaworld supply contract was forged through First Gen retail electricity arm Green Core Geothermal Inc. The two-year contract started on March 26
First Gen will supply to Megaworld’s Uptown Place Towers 1, 2 and 3 and to the flagship Alliance Global Tower, which houses the headquarters of Megaworld parent firm Alliance Global Inc. and its subsidiaries including Megaworld.
“All facilities will be supplied by Tongonan Geothermal Power Plant located in Kananga, Leyte,” Vega said.
First Gen vice president and head of corporate communications Ricky Carandang said the power generation company agreed to team up with Megaworld because they share common goals that include promoting sustainable, affordable and clean energy and campaigning against climate change.
“Like our parent firm First Philippine Holdings Corp., we recognize the risks that we humans are all facing from climate change due to the continued buildup in the atmosphere of heat-trapping greenhouse gases, including those from power plants using carbon-intensive fossil fuel,” Carandang said.
“This awareness explains our focus on developing and operating power plants that run on renewable energy sources, such as hydro, wind, solar and geothermal, which emit minimal if not zero carbon dioxide,” he said.
Aside from the RE projects, First Gen owns and operates power plants that run on natural gas, considered the cleanest form of fossil fuel. First Gen’s portfolio of power plants has a combined capacity of 3,492 MW.
“We are grateful to Megaworld for responding to our offer for collaboration in support of our shared clean energy advocacy. Collaborations even in small ways, like our partnership with Megaworld, can help reduce the buildup of toxic carbon dioxide in the atmosphere, if we keep replicating these partnerships,” Carandang said.