Filinvest unit to develop Cebu solar facility
MANILA -Filinvest-Engie Renewable Energy Enterprise Inc. (FREE) has partnered with Cebu-based medical products and solutions company Merasenko Corp. for the development of a solar project in Cebu City that is expected to reduce the latter’s carbon emissions.
In a statement, FREE said the rooftop solar system is expected to be operational in the first quarter of 2024, reducing carbon emissions by over 3,500 tons in the 20-year contract period.
This is the equivalent to the removal of over 15,000 gasoline-powered cars from the road, it added.
“The system will be governed by a solar power purchase agreement, which will cover the construction and ownership of the new equipment installed, operation and maintenance of the solar system, and transfer of the equipment at the end of the contract period,” FREE said.
At the same time, the firm inked a memorandum of understanding with Merasenko to assist in the company’s renewable energy projects through the conduct of energy audits and feasibility studies.
According to FREE, the partnership will help balance growth, profit and sustainability goals of Merasenko through sustainable energy research.
“[This] partnership will demonstrate that strategic implementation of clean energy and energy efficiency measures can save money and improve operations, while helping companies fulfill their social responsibility to minimize climate-related threats,” said FREE director Thomas Baudlot.
Article continues after this advertisementFREE is a joint venture between FDC Utilities Inc., the power utility arm of Filinvest Development Corp., and ENGIE Services Philippines.
Article continues after this advertisementThe firm develops solar energy rooftop systems for consumers in the Philippines, allowing them to save up to 30 percent of their energy spending while reducing carbon footprints and decreasing grid dependency.
—Meg J. Adonis
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