Precision Crestec, First Gen renew 700kW power deal
MANILA, Philippines — Industrial printing company Precision Crestec Inc. and Lopez-led First Gen Corp. renewed their agreement to supply clean energy to the former’s facility in Pasig City.
The supply agreement, which has been in effect since 2021, involves 700 kilowatts of renewable energy supply for Precision’s production facility.
Besides that, First Gen and its sister company Pi Energy Inc. provide Precision Crestec with energy efficiency solutions for the efficient use of electricity, including a remote energy monitoring system for analyzing and checking the industrial printing firm’s real-time power consumption.
READ: First Gen gets permit to operate LNG depot
“Our partnership with industrial firms such as Precision Crestec, Inc. enables them to make sense of their power utilization and make more informed decisions on how to save on electricity costs,” said Carlo Lorenzo Vega, First Gen vice president and chief customer engagement officer.
“Plus, they are able to reduce the carbon footprint in their production through the use of RE,” Vega said.
According to First Gen, the new supply agreement signed late last month forms part of Precision Crestec’s program to meet the increasing demand for more sustainable supply chains and products.
Founded in 1962, Precision Crestec is in the business of providing high-quality packaging solutions, serving industries such as food and beverage, electronics, pharmaceuticals, e-commerce and retail for both local and Philippine-based export companies.
“With an innovative approach, we deliver durable, cost-effective, and eco-friendly packaging designed to enhance product safety and brand visibility while maintaining the lowest possible carbon footprint,” Precision Crestec president Purificacion Dizon said.
First Gen said its 3,668-megawatt combined capacity of renewable and natural gas power plants helps ensure energy security in the Philippines.
Currently, the listed firm has 1,651 MW of installed RE capacity from 28 solar, wind, hydro and geothermal power plants and another 2,017 MW from four other power plants that run on natural gas.
Natural gas, according to First Gen, is a bridge fuel that offers flexible power generation and supports the introduction of more intermittent RE in the country.
