PSE Tower extends RE deal with FGEN

The Philippine Stock Exchange at One Bonifacio High Street Condominium Corp. (PSE at OBHS) has renewed its electricity supply agreement with First Gen Corp. of the Lopez family for the PSE Tower in Bonifacio Global City.

Under the agreement, First Gen will supply the tower with up to 5.1 megawatts (MW) of electricity from its geothermal power plant in Leyte.

Philippine Stock Exchange, Inc. President Ramon Monzon said on Thursday that the full transition to renewable energy reduces the PSE's carbon footprint.

“We are pleased to renew our partnership with First Gen as we remain committed to pursuing our sustainability agenda. Climate change is a very real risk to all of us, and we must do what we can to mitigate our impact on the environment,” Monzon said.

First Gen has been supplying the PSE Tower with renewable energy since 2021.

The PSE Tower is a 26-storey building housing the PSE, Inc. headquarters and various subsidiaries, as well as trading participants and other tenants.

Through Energy Development Corp., First Gen operates 13 geothermal plants with nearly 1,200 MW of capacity, representing 60 percent of the country's geothermal power.

The company also generates energy from 15 other renewable energy plants and four natural gas facilities.

“Each company and enterprise has different circumstances, and we make an effort to partner with our customers to help them in their decarbonization journeys, addressing their needs and concerns on how to integrate energy efficiency and supply adoption into their operations,” First Gen Chief Engagement Officer Carlo Vega said.