First Gen seals renewable energy deal for Zambales factories
MANILA, Philippines — First Gen Corp. has locked in the deal to power the local manufacturing plants of Japanese multinational firm Sanyo Denki Co. with renewable energy.
In a statement on Thursday, the Lopez-led energy producer said it sealed the agreement with Sanyo Denki Philippines, a subsidiary of the Japan-based company.
The deal would cover all four manufacturing facilities and its technology center at the Subic Bay Freeport Zone in Zambales.
The 5,500 kilowatts of electricity would be sourced from a geothermal power plant that its unit Energy Development Corp. owns and operates in Negros Oriental.
First Gen said this move from Sanyo Denki was part of its commitment to shift all its production facilities to clean energy sources.
Established in 2000, Sanyo Denki Philippines is engaged with the manufacturing of devices for backup electricity, solar power systems, and electric motors.
“Shifting a 24/7 operation to renewable energy and rationalizing power consumption are challenges for manufacturing firms. It is our privilege to help enable and advise them on to take the next steps towards a more sustainable future for their operations,” said Carlo Vega, First Gen chief engagement officer.
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More RE solutions
“We look forward to continuing the journey with Sanyo Denki Philippines and continue to integrate more RE and energy efficiency solutions into their facilities,” he added.
First Gen is a major power generation firm in the Philippines, with 1,651 megawatts of total capacity from a portfolio of 26 power plants running on geothermal, hydro, wind, and solar energy.
The group also has a network of four gas-fired power plants in Batangas province: San Lorenzo, San Gabriel, Santa Rita, and Avion gas plants. These facilities have an additional capacity of 2,017 MW.
Based on data from the Energy Regulatory Commission, First Gen was the third biggest player in the power generation business in 2024 with 13.22 percent market share or 3,582 MW share to the grid.
Its earnings last year dropped by 12 percent to $245 million from a year ago’s $277 million due to lower revenues and higher expenses.
