Rooftop solar system powering steel firm
By implementing the largest rooftop solar PV system in the Philippines, we are accelerating the production of lower carbon, high-quality steel products for the Philippine market
By implementing the largest rooftop solar PV system in the Philippines, we are accelerating the production of lower carbon, high-quality steel products for the Philippine market
Real Steel Corp., or RSC, and TotalEnergies ENEOS have teamed up to build a 16.8 megawatt-peak rooftop solar photovoltaic system to power up the country's first high-speed rolling mill facility in San Simon, Pampanga.
The facility will have over 22,000 solar modules and a PV system that can generate 26,000 megawatt-hours of renewable electricity annually.
Once complete, the project will reduce the facility's carbon emissions by approximately 12,800 tons of CO2 yearly, or equivalent to planting 200,000 trees.
Under the agreement, TotalEnergies ENEOS will install and maintain the PV system, while RSC will be the operator and owner of the asset from the commissioning.
10-year gestation
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The business model proposed by TotalEnergies ENEOS ensures a neutral cash flow for RSC for the first 10 years of engagement. Afterward, RSC will fully benefit from the asset for its entire lifespan of around 30 years.
"Real Steel Corporation is dedicated to spearheading sustainable practices within the steel industry. By implementing the largest rooftop solar PV system in the Philippines, we are accelerating the production of lower carbon, high-quality steel products for the Philippine market," RSC CFO William T. Chen said in a statement over the weekend.
Meanwhile, Elodie Renaud, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia, said the partnership will also support RSC as "a green lane strategic investment in the Philippines Development Plan 2023-2028."
Real Steel Corporation is a distinguished manufacturer of steel-deformed bars. Its cutting-edge melting and rolling mill facilities in San Simon are equipped for the production of high-quality steel products.
TotalEnergies ENEOS is a company that provides affordable and clean energy, which is a key contributing factor to the Philippine economy.
