PHILIPPINES, 14 December 2023 – Filinvest, one of the Philippines' largest diversified conglomerates, and ENGIE, a global leader in low-carbon energy and services, have officially announced the launch of four sustainable energy initiatives under their joint venture companies, the Filinvest-ENGIE Renewable Energy Enterprise, Inc. (FREE) and Philippine DCS Development Corporation (PDDC). The projects include a combined 13.68 megawatts (MW) of solar energy for leading companies CEMEX, Nexperia, and Merasenko Corporation and 11,400 refrigeration tons (RT) of sustainable cooling capacity for Festival Mall in Alabang.
"ENGIE and Filinvest have been working in partnership to advance the Philippines’ sustainability goals since 2015. ENGIE is proud to be part of these new initiatives, which build upon the positive impact we have already made together in improving access to renewable energy, reducing CO2 emissions, and fostering more environmentally sustainable economic development in the country," said Thomas Baudlot, CEO ENGIE South East Asia.
“Filinvest and ENGIE, through the services offered by our joint ventures, FREE and PDDC, derive pride from enabling companies in even the most energy-intensive industries to embark on their sustainability journeys,” said Juan Eugenio L. Roxas, President and CEO of FDC Utilities, Inc., the utility arm of Filinvest Group, and President of FREE. He continued, “With these projects, customers in challenging industries like cement and semiconductor manufacturing are taking action to decarbonize, setting an example for others, without compromising on their bottom lines and customer satisfaction.”
FREE to develop over 13 MW of new solar projects
The largest of the three solar projects is a 10.08 MW ground-mounted solar array with leading cement producer Cemex through one of its Philippine subsidiaries, APO Cement Corporation (APO Cement). The project will be located in the City of Naga, Cebu, and is projected to avoid more than 9,000 metric tons (MT) of CO2 annually. The array, planned to deploy in 2024, will be governed by a 25-year power purchase agreement (PPA) and over the life of the contract, cumulatively deliver carbon savings equivalent to removing over 50,000 cars from the road. This project is part of Cemex’s Future in Action program, which aims to cover 65% of its electricity consumption with clean energy by 2030.
In addition, Cemex Holdings Philippines (the parent company of APO Cement) and ENGIE have entered into a memorandum of understanding (MoU) to explore the implementation of various renewable energy and energy efficiency solutions for Cemex’s facilities in the City of Naga, and various project sites to help the company advance its sustainability goals.
In Cabuyao, Laguna, FREE has secured a contract with Dutch semiconductor manufacturer Nexperia to implement an over 3 MW rooftop solar system for their facilities, which process approximately one billion microchips a year. By 2035, Nexperia is targeting to achieve carbon neutrality in its direct operational emissions (scope 1) and the indirect emissions associated with energy procurement for its operations (scope 2). This commitment necessitates a transition to 100% renewable electricity use.
Closing the solar announcements, Merasenko Corporation, a leading medical products and solutions company, has engaged FREE to develop a 0.53 MWp rooftop solar system for their facility in the Cebu Light Industrial Park of Cebu City.
Sustainable cooling for the Philippines’
5th largest mall
Meanwhile, PDDC will develop a low-carbon centralized cooling system (CCS) for Festival Mall in Alabang, under a 20-year build, own, operate, and transfer (BOOT) contract.
“The scope of this project is nothing short of remarkable. Once completed, Festival Mall, the country’s 5th largest mall, will enjoy a sustainable centralized cooling system with a capacity of 11,400 RT that is projected to save a substantial 47,500 metric tons of CO2 over the contract's 20-year term, an impact equivalent to planting more than three-quarters of a million trees,” said Michael Dumlao, First Vice President and Business Retail Head, Filinvest Land, Inc.
Anticipated to be commissioned in 2025, the CCS compliments the Festival Mall’s 2.8 MW rooftop solar system that commenced operations in 2021, which is notably the largest rooftop solar project in Metro Manila to date.
Filinvest and ENGIE, accelerating the Philippine’s energy transition together
This latest wave of projects from Filinvest and ENGIE’s partnership exemplifies their shared commitment to accelerating the Philippines’ energy transition. The Philippines have set ambitious goals, from reducing greenhouse gas emissions 75% by 2030 to achieving 20 GW of renewable energy capacity by 2040, in line with its Paris Agreement and National Renewable Energy Program 2020-2040 commitments, respectively and ENGIE and Filinvest are acting to help the Philippines meet their targets.
ENGIE is a global reference in low-carbon energy and services. With its 96,000 employees, its customers, partners and stakeholders, the Group is committed to accelerating the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by its purpose (“raison d’être”), ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers.
In Southeast Asia, we are a fast-growing team of nearly 2,000 employees. With a geographical focus in Singapore, Malaysia, and the Philippines, we bring efficient energy solutions spanning from integrated facilities management and low-carbon infrastructure (district cooling, EV charging, onsite solar, etc.) to large-scale renewables to our clients across the industry, real estate, and data center sectors. We act throughout the value chain to help our clients decarbonize today, for a better tomorrow.
About Filinvest Development Corporation
Filinvest Development Corp. (FDC) is one of the leading, stable, and diversified conglomerates in the Philippines. Through its diverse businesses, FDC has established a strong reputation as a dependable partner in economic development. FDC has strategic holdings in key industries such as real estate development and leasing, banking and financial services, hotel and resort management, sugar and power generation.
Subsidiary FDC Utilities, Inc. (FDCUI) is the Filinvest Group’s re-entry into the power market in 2009 with an overall strategic goal of building a portfolio of power generation projects. FDCUI has been actively exploring renewable energy projects as part of its pipeline, specifically solar power, hydropower, and biomass energy projects. FDCUI signed a joint venture agreement with ENGIE Services Philippines to establish the Filinvest-ENGIE Renewable Energy Enterprise, Inc. (FREE), offering solar power solutions to commercial and industrial clients. Prior to FREE, Filinvest Land, Inc. (FLI) signed a joint venture agreement with ENGIE Services Philippines to incorporate the Philippine DCS Development Corporation (PDDC) to engage in the business of financing, building, and operating District Cooling Systems (DCS).
The Filinvest Group aims to grow its legacy of success by strengthening its position in the industries where it competes and embarking on new endeavors to bolster its nation-building role.
Visit www.filinvestgroup.com for information on the company.
ENGIE South East Asia press contact(s):
Regional Head of Marketing & Communications
ENGIE South East Asia
M: +65 9155 5600
Regional Manager, Marketing & Communications
ENGIE South East Asia
M: +65 8176 0736
Filinvest press contact(s):
Suzette P. Naval
Head, Corporate Communications
Filinvest Development Corporation
Asst. Manager, Industry and Gov’t Relations and Sustainability
FDC Utilities, Inc.