First Gen tapped to supply clean power to Eton’s 14 properties
MANILA, Philippines – First Gen Corp. is leading the shift of taipan Lucio Tan’s Eton Properties Philippines Inc. to 100-percent clean electricity across its 14 real estate assets.
The renewable energy supply deal covers 14 Eton facilities, including residential, commercial and office spaces.
READ: First Gen sets P41.7B for projects
These require more than 11 megawatts (MW) of power, the property development arm of the Tan group said in a statement on Monday.
The first shift was pursued for Eton Centris Cyberpod Five, Eton Centris Cyberpod One, Eton Centris Cyberpod Three and Four, Eton Centris Walk, Eton Cyberpod Corinthian and Eton WestEnd Square.
The second batch of the plan included Eton Residences Greenbelt, 8 Adriatico, Eton Tower Makati, One Archers Place, Eton Centris Cyberpod Two, Eton Centris Station, Blakes Tower and Eton Square Ortigas.
The clean power is sourced from First Gen’s Tongonan and Unified Leyte geothermal power plants.
Eton Properties chief finance officer Che Mutuc said the agreement with First Gen allowed the group to lock in prices, as well as secure supply, considered critical as the global market continues to witness volatility amid the war in the Middle East.
“Our shift to 100% renewable energy across all our properties in Metro Manila reflects both our belief in sustainability and more importantly our commitment to helping restore a greener earth,” the official said.
“This will not only help our bottom line but also that of our tenants and homeowners as we flow the savings with them,” Mutuc added.
First Gen lead customer progress partner Marjorie Castelo, meanwhile, highlighted the reliability of sourcing electricity from geothermal power assets, as they could run around the clock.
The group has 31 renewable energy facilities that harness the power of solar, wind, hydro and geothermal.
The company intends to spend about P41.7 billion in capital expenditures this year, with the bulk earmarked for hydropower assets. INQ
