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TDK Philippines Corp. is powering its entire manufacturing plant in Laguna with renewable sources after it signed up with Lopez-led Energy Development Corp. (EDC) for geothermal energy supply.
In a media release on Monday, EDC said TDK is sourcing 2.5 megawatts (MW) of geothermal energy from the First Gen Corp. unit’s facilities in Leyte.
“As a partner, we will make sure to support TDK’s sustainable business operations by supplying 100% renewable energy sourced from EDC’s Unified Leyte and Green Core Geothermal, Inc. power facilities,” said Arlene Sy Soriano, head of First Gen’s power marketing and sales.
“TDK’s green initiatives, which include cutting down carbon emissions by 50% in 2035 and achieving net zero by 2050, are aligned with our decarbonization and regeneration mission,” she added.
EDC said TDK had been implementing measures to cut its carbon footprint “by evaluating and calculating the energy-saving effect of its products since 2011.”
In its social media account, TDK is described as a manufacturer of magneto-resistive recording heads for computer hard disk drives. It listed its global group as TDK Corp., a comprehensive electronic components manufacturer based in Japan.
EDC said the TDK group’s green initiatives support the 17 United Nations Sustainable Development Goals as well as its environmental vision for a cleaner decarbonized world.
The geothermal energy producer quoted TDK President and Chief Executive Officer Tamotsu Aiba as saying: “The partnership with First Gen is a big step for TDK Philippines to achieve our environmental mission to a cleaner, decarbonized world. TDK will continue to reach its environmental targets from the perspective of the entire supply chain and create value for a sustainable society.”
EDC said its geothermal energy supply would provide “uninterrupted baseload power rain or shine, all year round” or what it calls Geo 24/7. The renewable source will enable TDK to avoid a minimum of 13,139 tons of carbon dioxide in lieu of coal each year, it added.
TDK will also benefit from more affordable electricity rates resulting from having zero value-added tax on generation charges and fixed rates that are not indexed to fuel commodities and foreign exchange.
First Gen’s EDC unit has more than 1,480 MW of installed capacity, equivalent to about 20% of the country’s total installed renewable energy capacity. Its 1,185.4-MW geothermal portfolio accounts for 62% of the country’s installed geothermal capacity.
The Philippines is the third-largest geothermal producer in the world.