Araneta Group taps renewable energy from First Gen

 By Lenie Lectura May 11, 2021

https://businessmirror.com.ph/2021/05/11/araneta-group-taps-renewable-energy-from-first-gen/

 

Lopez-led clean energy provider First Gen Corp. has been tapped by the Araneta Group for the supply of renewable energy to the historic and pioneering shopping center Ali Mall in Quezon City.

The group’s property arm, Araneta City Inc. (ACI), signed an agreement with First Gen’s subsidiary Bacman Geothermal Inc. (BGI) to supply Ali Mall with 2.1 megawatts (MW) of power.

BGI, a licensed retail electricity supplier, will source electricity for Ali Mall from the 132-MW Pantabangan-Masiway hydroelectric power plant in Nueva Ecija. First Gen Hydro Power Corp., another subsidiary of First Gen, owns and operates the hydro plant.   “We at First Gen are happy that the Araneta Group has accepted our offer to be a partner in the task—even if daunting—of reducing the buildup of more heat-trapping carbon dioxide in the atmosphere,” said First Gen Vice President for Marketing Carlo Vega.

“We commend the Araneta Group at the same time for their support in adopting renewable energy. Small gestures like this, if taken together, will make a big difference in the fight against global warming and climate change. It reinforces our commitment to expand the development and use of clean and renewable energy for our power plants.”

The Araneta Group’s ACI owns and manages the 35-hectare Araneta City, formerly known as the Araneta Center. This mixed-use property development serves as a retail, entertainment, residential, hospitality, and office hub, with Ali Mall as one of its earliest anchor businesses.

The mall, which opened in 1976 and named after legendary boxer Muhammad Ali, is the country’s first enclosed and fully air-conditioned shopping center. It houses the first multiple cinemas or cineplex, the first food court, and the first multi-level covered parking area in the Philippines. The historic mall remains a favorite destination among shoppers.

 “This partnership is another milestone in the Araneta Group’s efforts to integrate environmental sustainability in property development. We stay true to our legacy of providing pioneering and memorable experiences to the Filipinos, yet we keep our commitment to implement green solutions in our fast-growing urban community,” John Castelo, ACI Senior Vice President for Business Development, said.

Araneta Group has previously tapped other renewable energy solutions such as the installation of solar power facilities in BPO buildings, and the application of Green Building certification for development projects, among others.

Aside from hydro, renewable energy sources such as geothermal, wind and solar provide the power to run power plants of First Gen, on top of natural gas, the cleanest form of fossil fuel.