Energy Development : EDC ventures into solar rooftop; seals deal with Gaisano Capital malls

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EDC ventures into solar rooftop; seals deal with Gaisano Capital malls

Thursday, July 21st, 2016

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Energy Development Corporation (EDC) and First Gen Energy Solutions, Inc. (FGES) has partnered with Gaisano Capital to provide low carbon and environment-friendly energy projects. The Lopez-led firms inked a Power Purchase Agreement (PPA) with Gaisano Capital, one of the largest retail companies in the Philippines, to install solar panels on the rooftop of the Gaisano Capital Iloilo in La Paz, Iloilo City.

Based on the agreement, EDC will construct and install 3400 solar panels to provide Gaisano Capital Iloilo with 975kW of power. The solar rooftop installation has the ability to provide up to 50% of the mall's daytime load through clean solar energy, which will enable Gaisano Capital to avoid emitting 750 metric tons of CO2 annually.

'At the rate climate change is affecting the most vulnerable countries including the Philippines, we should be shifting to cleaner and more efficient technologies that manage environmental, health and social impacts better. That is why we made a commitment to remain a 100% renewable energy company and not to build or invest in coal plants,' EDC President and Chief Operating Officer (COO) Richard Tantoco said.

EDC has been advocating for the shift to clean and renewable energy sources in support of the Philippine commitment to the United Nations to reduce carbon emissions by 70% by 2030.

Gaisano Capital for its part welcomes the opportunity to provide added value to its customers. 'We have been interested in solar panels for some time now. We always look for ways to make our operations more environmentally responsible and serve our customers better,' Gaisano Capital Vice President for Operations Edmund Gaisano, Jr. explained.

EDC and Gaisano Capital have also signed a Memorandum of Understanding to pursue solar opportunities for other branches in Panay island. Tantoco added that EDC is currently in talks with other potential customers mostly commercial enterprises for its solar rooftop business.

The solar rooftop is the latest addition to EDC's clean energy portfolio which includes 1,169 MW of geothermal, 150MW of wind, 132MW of hydro and 7MW of solar energy.