First Gen, Araneta Group sign renewable energy supply deal for Ali Mall


Posted at May 10 2021 12:19 PM

MANILA – First Gen Corp said Monday it has signed a deal with the Araneta Group for the supply of renewable energy to Ali Mall in Quezon City.

Araneta Group’s property unit Araneta City Inc (ACI) signed an agreement with the Lopez-led First Gen’s subsidiary Bacman Geothermal Inc (BGI) to supply Ali Mall with 2.1 megawatts (MW) of power, it said in a statement. 

Licensed retail electricity supplier BGI will get the power requirement from the 132-MW Pantabangan-Masiway hydroelectric power plant in Nueva Ecija which is owned and operated by First Gen Hydro Power Corp, another subsidiary of First Gen, it said.

"We at First Gen are happy that the Araneta Group has accepted our offer to be a partner in the task -- even if daunting -- of reducing the buildup of more heat-trapping carbon dioxide in the atmosphere,” said First Gen Vice President for Marketing Carlo Vega.

"We commend the Araneta Group at the same time for their support in adopting renewable energy. Small gestures like this, if taken together, will make a big difference in the fight against global warming and climate change. It reinforces our commitment to expand the development and use of clean and renewable energy for our power plants,” Vega added.

The partnership is “another milestone” in the Araneta Group’s effort to integrate environmental sustainability in property development, said ACI senior vice president for Business Development John Castelo.

“We stay true to our legacy of providing pioneering and memorable experiences to the Filipinos, yet we keep our commitment to implement green solutions in our fast-growing urban community,” he said.

ACI owns and operates Araneta City, a mixed-use property development with retail, entertainment, residential, hospitality and office spaces.

First Gen also operates geothermal, wind, solar, as well as natural gas plants.

First Gen earlier said it has also signed a deal to provide clean and renewable energy for several projects of Megaworld Corp. 


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