First Gen powers more Araneta City properties
First Gen Corp. is injecting additional clean electricity to more properties under Araneta City Inc., the group behind the 35-hectare mixed-use property development in Cubao, Quezon City.
The Lopez-led power firm on Wednesday said that Araneta City has tapped First Gen anew to accelerate its shift to renewable energy.
For this new pact, First Gen will energize four additional properties in Araneta City: the 30-storey Cyberpark Tower 3 office building, the 22-storey mixed-use Aurora Tower, the former Fiesta Carnival site that is undergoing redevelopment and the remaining Fiesta Carnival Arcade.
The power supply totaling 3.4 megawatts (MW) will be sourced from First Gen’s 648-MW Unified Leyte geothermal power plants.
This came nine months after both parties sealed an agreement covering three other Araneta City properties: Ali Mall, New Frontier Theater and Manhattan Gardens.
This meets the power needs of more than 200 retail and service tenants in Ali Mall and New Frontier Theater, as well as the 18 residential towers of Manhattan Gardens.
“We have been trying to tap renewable energy sources for the past years and we’re happy to be achieving our vision. Our BPO [business process outsourcing] locators have been asking us to source renewable energy. We look forward to growing our partnership with First Gen,” said Araneta City senior vice president Antonio Mardo.
Araneta City was among the first to adopt the government’s retail competition and open access and retail aggregation program. These initiatives enable consumers to pick their own power providers.
“Shifting to renewable energy is not just doing good for the environment, but also a means to manage business risks. We thank the Araneta Group for growing with us and allowing us to be their partner as they progress in their sustainability journey,” added Carlo Vega, First Gen chief customer engagement officer.
First Gen has over 1,700 MW of combined generating capacity from 31 geothermal, hydro, wind and solar plants.
