By Danessa Rivera (The
Philippine Star) | Updated July 22, 2016 - 12:00am
MANILA, Philippines - The Lopez
Group is making its initial venture into solar rooftop development through a
tieup with Cebu-based retailer Gaisano Capital.
In a statement, Lopez-run firms
Energy Development Corp. (EDC) and First Gen Energy Solutions Inc. (FGES) said
they have partnered with Gaisano Capital to provide low carbon and
environment-friendly energy projects.
The parties inked a power purchase
agreement (PPA) to install solar panels on the rooftop of Gaisano Capital
Iloilo in La Paz, Iloilo City.
Under the agreement, EDC will
construct and install 3,400 solar panels to provide Gaisano Capital Iloilo with
975-kilowatt (kw) of power, which can provide up to 50 percent of the mall’s
daytime load and enable Gaisano Capital to avoid emitting 750 metric tons of
carbon dioxide 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 percent renewable energy company and not to build or invest in coal
plants,” EDC president and COO Richard Tantoco said.
Gaisano Capital said the solar
rooftop installation will give 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. said.
EDC and Gaisano Capital have also
signed a memorandum of understanding to pursue solar opportunities for other
branches in Panay Island.
Tantoco said EDC is currently in
talks with other potential customers, mostly commercial enterprises, for its
solar rooftop business.
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