Menarco Development Corp., a company controlled by the family of businessman Menardo Jimenez, tapped First Gen Corp. to supply renewable energy for its award-winning and intelligently-designed 32-story tower in Taguig City.
First Gen vice president Carlo Vega said that under the two-year agreement starting later this month, First Gen through Green Core Geothermal Inc. would supply Menarco Tower 800 kilowatts of electricity from a geothermal plant of GCGI.
“We are happy that our agreement with Menarco Development will complement Menarco Tower’s image as a very innovative, energy efficient, healthy, safe and hi-tech office boutique tower,” Vega said in a statement Thursday.
Menarco Tower is the first and only office tower in Southeast Asia to hurdle the stringent health and environment requirements to be WELL certified gold by the International Well Building Institute and to gain a LEED gold certification from the US Green Building Council.
“Menarco Tower is designed to offer humanity-centered spaces which ensure the building community’s health and well-being, as well as minimizing any adverse impact on the environment. Menarco is proud to partner with First Gen for our renewable energy needs,” said Menarco Development founder and chief executive Carmen Jimenez-Ong, the youngest daughter of Jimenez.
“By consistently walking the talk, we take an active part in the country’s efforts to mitigate climate change and rolling blackouts. Together, we are part of the solution, not the problem,” Jimenez-Ong said.
Menardo, chairman of Menarco, belongs to Forbes’ list of top 50 richest Filipinos of 2020. He gained his wealth as a top executive and investor in GMA Network, where he was a past president.
“As we keep saying, this partnership may just be another small step. But by repeating these steps and forging partnerships with more like-minded groups, we can help achieve a decarbonized and regenerative future,” Vega said.
GCGI, an indirect subsidiary of First Gen, holds a license as a retail electricity supplier. It also owns and operates two integrated geothermal power plants—one in Leyte and another in Negros Island.