A subsidiary of property developer W Group Inc. signed partnership with First Gen Corp. of the Lopez Group for the supply of renewable energy to its manufacturing facility in Laguna province.
“We are very excited to embark on this new journey to diversify and broaden our efforts to champion sustainability across our subsidiaries. It is high time that we explore other initiatives beyond the operation and development of our iconic green properties in Bonifacio Global City as we push further towards achieving our environmental goals in the company,” said W Group chief executive Francis Wee.
The move reaffirms W Group’s commitment to environmental sustainability through its seaweed and carrageenan subsidiary W Hydrocolloids, Inc. The deal under WHI’s carrageenan exporter arm Philippine Bio-Industries, Inc. is expected to enhance the company’s operations and contribute to the firm’s thrust for sustainability and environmental efficiency.
The move also aligns WHI and W Group’s efforts with the sustainability efforts of its multinational customers overseas and makes PBI the first carrageenan factory in the Philippines to run on 100-percent clean energy.