Eton Properties Philippines Inc. (Eton) has completed the transition of 14 developments to 100 percent renewable geothermal energy, sourcing more than 11 megawatts (MW) of power from First Gen Corp.’s (FGEN) geothermal facilities.
The Lucio Tan Group's property arm initially shifted six office and commercial developments with a combined demand of 8.7 MW to geothermal power from FGEN’s Tongonan Geothermal Power Plant.
This year, eight additional residential and mixed-use properties joined the program under the Green Energy Option Program (GEOP), sourcing power from FGEN’s Unified Leyte Geothermal Power Plant.
“Our shift to 100% renewable energy across all our properties in Metro Manila reflects both our belief in sustainability and, more importantly, our commitment to helping restore a greener earth.
We are even more grateful that this important initiative will also allow us sustainable savings, especially amid the oil and energy crisis. This will not only help our bottom line but also that of our tenants and homeowners as we flow the savings with them,” Eton Properties Chief Finance Officer Che Mutuc said on Monday.
For FGEN, the partnership highlights growing demand for renewable power among large commercial customers.
"In a country where most developments are still fueled by coal, choosing renewable energy is a rare and premium distinction. It is a badge of operational exclusivity.
By choosing our geothermal power, Eton is utilizing the steady heartbeat of the clean grid, renewable energy that runs 24 hours a day, 7 days a week," said Marjorie Castelo, First Gen's Lead Customer Progress Partner.
Geothermal power provides round-the-clock renewable electricity, making it one of the country's most reliable clean energy sources and a key component of Eton's long-term decarbonization strategy.
