The power unit of the Lopez Group has so far signed up 10 entities that have shifted to renewable energy (RE) through licensed Green Energy Option Program (GEOP) supplier First Gen Corp. and its 100 percent RE arm, Energy Development Corp. (First Gen-EDC).
The first batch of switchers are Asahi Electrical Manufacturing Corp.; Bulacan HJR International Corp.; Engtek Philippines Inc.; Goldilocks Bakeshop Group of Companies; HJR International Corp.; Mary Grace Cafe (Bluemantle Industries Inc.); Puratos Manufacturing Corp.; Puresteel Manufacturing Corp.; The Linden Suites; and TMC International Corp. Two facilities of Bulacan HJR are sourcing RE from First Gen-EDC, which had the most number of GEOP switchers for the first batch, with 11 out 17 facilities signing up to avail of this program that allows them to lower their carbon footprint.
Under the government’s GEOP, companies with an average peak demand of at least 100 kilowatts (kW) for the past 12 months can directly source their electricity from licensed providers.
“GEOP empowers businesses by giving them this opportunity to take a strong stand for the environment and future-proof their operations as they become a part of the solution to our warming climate,” said Gideon Red Butalid, head of EDC’s Market Planning and Contracts team.
This means that any company in the country that meets the average peak demand requirement can now choose which Renewable Energy Supplier they want to partner with depending on their budget and electricity supply requirements.
These GEOP switchers’ facilities now enjoy a stable supply of clean power from First Gen-EDC’s geothermal facilities. Considered as the “Holy Grail among RE technologies,” geothermal energy provides uninterrupted baseload power rain or shine, all year round or what the leading RE firm refers to as Geo 24/7. Being powered by Geo 24/7 will enable them to avoid a minimum of 0.61 tons of carbon dioxide per 100kW in lieu of coal each year.
Apart from being able to lower their carbon footprint, GEOP customers may enjoy more affordable electricity rates that mainly come from having zero VAT on generation charges and fixed rates that are not indexed on our foreign exchange since power is sourced from indigenous renewable energy sources.
“This is definitely a major factor for making the switch as coal prices continue to soar due to the ongoing war in Ukraine and also due to the peso’s depreciation against the US dollar.”
First Gen-EDC has over 1,480MW total installed capacity that accounts for 20 percent of the country’s total installed RE capacity. They’re 1,181MW geothermal portfolio accounts for 62 percent of the country’s total installed geothermal capacity and has put the Philippines on the map as the 3rd largest geothermal producer in the world.
