First Gen to build solar rooftop system for Japanese manufacturer

MANILA, Philippines – Lopez-led First Gen Corp. is developing a rooftop solar power system for the auto and industrial parts production facilities of a Japanese multinational firm.

The company said it signed an agreement with NKC Manufacturing Philippines Corp., a unit of Japan’s Nakanishi Metal Works Co. Ltd., for the installation of a 1.84-megawatt-peak solar rooftop system.

READ: First Gen sets P41.7B for projects

The deal covers NKC Manufacturing Philippines’ facilities inside the Mactan Economic Zone in Cebu. Installation works have already begun, with the energization slated before the year ends.

“Rising labor costs, inflation and the fact that our industry consumes a lot of heat comes with considerable impact on us,” NKC Phils. president Norihiko Matsuda said.

“The impetus for using solar power stems from our environmental concerns while ensuring a stable energy supply. By integrating solar power into our operation, we are choosing to power our growth with renewable energy,” he added.

Founded in 1997, the company manufactures rubber seals, retainers, and sash rollers for the global automotive and industrial sectors.

“We share their vision of offering high-quality products at reasonable costs, made with the lowest carbon footprint. We look forward to continuing to collaborate with the NKC team as they continue to shift to renewable energy and rationalize their power consumption,” added Mark Malabanan, First Gen Energy Solutions vice president for solar and commercial business development.

First Gen has 31 renewable energy facilities that harness the power of solar, wind, hydro and geothermal.

The company has earmarked about P41.7 billion in capital expenditures this year, particularly for its hydro power assets.

First Gen’s attributable net income fell 24% to P3.6 billion in the first quarter from P4.8 billion a year earlier after reducing its stake in natural gas assets. /pai INQ