First Gen and Araneta Group sign renewable energy supply agreement for Ali Mall

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MANILA – First Gen Corp announced on Monday that it has signed an agreement with Araneta Group for the supply of renewable energy to Ali Mall in Quezon City.

Araneta Group’s real estate unit, Araneta City Inc (ACI), has signed an agreement with Lopez-led subsidiary of First Gen, Bacman Geothermal Inc (BGI) to supply Ali Mall with 2.1 megawatts (MW) of electricity , he said in a statement.

Licensed retail electricity supplier BGI will secure the power requirements for the 132 MW Pantabangan-Masiway hydroelectric power plant in Nueva Ecija, owned and operated by First Gen Hydro Power Corp, another subsidiary of First Gen, a. he declares.

“At First Gen, we are pleased that the Araneta Group has accepted our offer to be a partner in the – however daunting – task of reducing the build-up of more heat-trapping carbon dioxide in the atmosphere,” said said the vice president of First Gen. for Carlo Vega Marketing.

“At the same time, we congratulate the Araneta Group for its support for the adoption of renewable energies. Small actions like this, if taken together, will make a big difference in the fight against global warming and climate change. This reinforces our commitment to expand the development and use of clean and renewable energy for our power plants, ”added Vega.

The partnership is “another milestone” in the Araneta Group’s efforts to integrate environmental sustainability into real estate development, said ACI’s senior vice president for business development John Castelo.

“We remain true to our heritage of providing pioneering and memorable experiences for Filipinos, but we remain committed to implementing green solutions in our rapidly growing urban community,” he said.

ACI owns and operates Araneta City, a mixed-use real estate development comprising retail, entertainment, residential, hospitality and office space.

First Gen also operates geothermal, wind, solar and natural gas power plants.

First Gen said earlier that it has also signed an agreement to provide clean, renewable energy for several Megaworld Corp projects.

FROM OUR ARCHIVES:

ANC, ANC Top, First Gen Corp, Ali Mall, Araneta Group, renewable energy, geothermal energy, hydropower, Pantabangan-Masiway hydropower plant


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