LOPEZ-LED Energy Development Corp. (EDC) said it is now supplying clean power from its geothermal plants to Cebu-based steel manufacturer Chioson Development Corp.
In a statement on Wednesday, EDC said three of Chioson’s units are now powered by the former’s geothermal facilities.
“We want to have a sustainable and reliable renewable energy supplier to push our advocacy for producing rebar, nails, and pipes in a clean and sustainable way,” said Bernard B. Chioson, the firm’s chief operating officer.
He added that “by moving words into action,” Chioson has chosen to source its power supply from geothermal energy “to further reduce its own carbon footprint on the environment.”
The move allows the steel manufacturer to avoid 1.86 million tons of carbon dioxide which would have been otherwise emitted by running on coal power.
EDC, which is a subsidiary of First Gen Corp., said that local businesses with an average monthly electricity consumption of at least 100 kilowatts, like Chioson, now have the option to source power from renewable sources through the government’s green energy option program.
“Shifting to renewable energy through licensed green energy option program providers like First Gen and EDC’s geothermal facilities is crucial to helping our country decarbonize and be a part of the solution to climate change,” EDC said.
EDC owns Green Core Geothermal, Inc., which earlier received the go signal from the Energy department to participate in the green energy option program.
EDC’s portfolio is made up of clean power projects totaling around 1,477 megawatts, accounting for almost 20% of the Philippines’ total installed renewable energy capacity.
Majority of the firm’s power projects are geothermal facilities which contribute to 61% of the country’s total installed geothermal capacity.