First Gen tapped to energize Taiwanese facility in Batangas
First Gen Corp. has secured a fresh renewable energy supply deal to power a Taiwanese company’s production and logistics facility in Batangas.
In a statement on Thursday, the Lopez-led firm said it signed the power supply agreement with the local subsidiary of Taiwan Fructose Co. Ltd., a global supplier of sweeteners.
The facility, located in the First Philippine Industrial Park, supports Taiwan Fructose’s export business. This involves the production of various sweetening products, such as glucose and fructose syrups, and other sweet additives for a wide range of food and beverage products, as well as health supplements.
First Gen said the electricity would be sourced from its Bacon-Manito (Bac-Man) geothermal complex in the Bicol region. It did not disclose the contracted capacity.
“Geothermal energy is a renewable energy source that can run at baseload capacity, which is ideal for industries that require a stable 24/7 power supply with a lower carbon footprint,” said First Gen chief customer engagement Officer Carlo Vega.
“We are pleased to support Taiwan Fructose in its journey toward sustainability and decarbonization,” Vega said.
First Gen has 28 power plants sourcing energy from geothermal steam, wind, solar and hydro. The renewable energy facilities have a combined capacity of more than 1,600 megawatts (MW). Its geothermal power operations account for the bulk, or about 1,289.34 MW, of the total capacity.
While there is still a long way, the group is hoping to have 13,000 MW of renewable energy by 2030. First Gen intends to invest more in geothermal projects, given the technology’s capacity to deliver consistent power.
It also has interests in four gas-fired power plants in Batangas with a total capacity of 2,017 MW.
The company ended the first half with an almost flat net income of P8.6 billion, as gains from its hydro were not enough to offset its weaker geothermal and gas businesses.
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