PNB Holdings Corporation (PHC), the real estate holding arm of Philippine National Bank, has reached an agreement with the First Gen Group (First Gen), the Philippines’ leading renewable energy producer, for direct supply of more than 5 megawatts (5 MW) of renewable energy for two of PHC’s high-value properties.
The supply agreement, signed last Aug. 18 by officials from PHC and First Gen, will provide geothermal power sourced from the latter’s Tongonan generation facility in Leyte for the PNB Financial Center along Macapagal Avenue, Pasay City, as well as the PNB Makati Center strategically located along Ayala Avenue in the Makati Central Business District.
“PNB Holdings’ transition to 100% renewable energy across PNB Financial Center and PNB Makati Center through our partnership with First Gen reflects our commitment to more sustainable and responsible property operations, while maintaining efficiency and reliability. We believe this move will help reduce our environmental impact and support our goal of building more resilient and future-ready properties,” said PHC Chief Financial Officer Ponciano Carreon Jr.
Aside from PHC, First Gen supports the renewable energy requirements of other firms under the Lucio Tan Group (LTG), such as Philippine Airlines, Lufthansa Technik Philippines, Macroasia SATS Food Industries Corporation, Macroasia Catering Services, Inc., Grandspan Development Corp., Absolut Distillers, and Eton Properties.
“It is our privilege to broaden our partnership with LTG through our partnership with PNB Holdings Corporation. We look forward to supporting PHC in its journey towards decarbonization as they continue to invest in community experience and workspace environment and future-proof its property developments through sustainability-led innovations,” said First Gen head of sales and engagement Arlene Soriano.
First Gen has over 1,700 MW of generating capacity from 31 hydro, geothermal, solar and wind facilities nationwide that provide renewable energy supply to distribution utilities and a wide array of direct customers across key industries such as colleges and universities, and in the fast-moving consumer goods, cold storage, agri-production and manufacturing businesses.
The First Gen Group also supports a wide range of industries by offering them solutions to rationalize energy consumption. These solutions include the installation of on-site solar photovoltaic facilities and remote energy monitoring systems, as well as the conduct of energy audits.
