Asian Development Bank buys geothermal power for its Headquarter
The Asian Development Bank (ADB) signs a geothermal power supply agreement with Aboitiz Power Corp.'s retail electricity supplier, AdventEnergy. This will power the ADB headquarter by 100% geothermal power from Tiwi, Albay and Maikliing-Banahaw.
Announced today, “the Asian Development Bank (ADB) has signed a geothermal power supply agreement with Aboitiz Power Corp.’s retail electricity supplier, AdventEnergy Inc.
Through the agreement, ADB will be purchasing electricity requirements from AdventEnergy instead of Meralco. However, the electricity to be supplied to ADB will still go through Meralco’s distribution network.
“As an institution we are strongly committed to expanding the use of renewable energy across Asia and the Pacific, so it is only fitting that we walk the talk in our own headquarters,” ADB Vice President Bruce Davis said.
“This agreement will allow us to cut our annual corporate carbon footprint by nearly 50 percent, with an emission reduction of more than 9,500 tons of carbon dioxide equivalent,” he added.
By signing the contract, the ADB headquarters will be powered by 100-percent renewable energy generated by geothermal facilities in Tiwi, Albay and in Makiling-Banahaw in Laguna, in addition to existing on-site solar power-generation equipment.
Under the supply contract with AdventEnergy, ADB said it will purchase an average of 1.5 million kilowatt-hours (kWh) a month. This will supplement the 50,000 kWh generated monthly through ADB’s rooftop solar panels.
ADB said these two sources will meet the entire energy requirements of the headquarters building, where more than 2,600 staff and consultants work each day.
The move follows ADB’s decision to take advantage of electricity reforms in the Philippines which allow large users to choose their power supplier. The contract with AdventEnergy followed a competitive bidding process and the company was the only one to offer a large portion of its electricity generated from renewable sources.”
Source: Business Mirror