MANILA—First Gen Corp. announced Wednesday it has been tapped by Megaworld Corp. to provide clean and renewable energy to the real estate company's four projects in Taguig City.
The Lopez-led power producer said that under the agreement, 6.17 megawatts of geothermal power will be supplied to Uptown Place Towers 1, 2, and 3.
Alliance Global Tower, which houses the headquarters of Megaworld's parent firm, Alliance Global Inc. (AGI), will also be supplied with renewable energy, First Gen said.
“Collaborations even in small ways, like our partnership with Megaworld, can help reduce the buildup of toxic carbon dioxide in the atmosphere, if we keep replicating these partnerships,” Ricky Carandang, First Gen Vice President and head of corporate communications, said in a statement.
First Gen owns and operates power plants that run on natural gas. In total, it has a combined capacity of 3,492 MW as of 2020, the corporation said.
Earlier, it executed a 5-year deal with BW FSRU IV Pte Ltd for the charter of a floating storage regasification unit for its interim offshore liquefied natural gas terminal project.
FRSU is a liquefied natural gas carrier (LNGC) capable of storing LNG which has an onboard regasification plant capable of returning LNG into a gaseous state and supplying it directly into the gas network.