Alliance Global shifts key properties to clean power

Alliance Global Group Inc., a diversified conglomerate owned by tycoon Andrew Tan, has installed renewable energy sources in its key properties across Metro Manila, Iloilo, and Davao, Philippines. The company has partnered with First Gen Corp., led by Lopez, to source over 25 megawatts of geothermal energy from their Bacon-Manito power plants in Albay and Sorsogon.

This agreement covers various properties such as Megaworld township developments, Venice Grand Canal Mall in Taguig, ArcoVia City in Pasig, and Richmonde Hotel Tower-Iloilo, as well as the Davao Finance Center and Emperador Distillers’ plants in Santa Rosa and Biñan, Laguna.

Megaworld Corp.'s sustainability head, Arnulfo Batac, explained that electricity consumption accounts for a significant portion of the conglomerate's overall carbon emissions. By harnessing more renewable energy, the company aims to reduce its carbon footprint and work towards achieving carbon net zero. This partnership with First Gen Corp. is seen as a means to optimize costs while also contributing positively to the environment.

First Gen, through Energy Development Corp., operates the Philippines' largest geothermal portfolio, making up more than half of the country's total installed geothermal capacity. Geothermal energy is a clean, reliable baseload supply, providing the minimum amount of electricity required to meet constant demand on the power grid.