First Gen signs 6.7MW geothermal PPA with property developer
First Gen secures new 6.7 MW PPA with property developer Megaworld. Electricity will be supplied by the Tongonan geothermal plant in Leyte, Philippines.
As reported this morning from the Philippines, First Gen Corp., mother company of geothermal/ renewable energy company EDC, has announced having signed a corporate power purchase agreement. Under the agreement with property developer Megaworld, the company will supply 6.7 MW of geothermal power to four upscale township and office tower projects in Taguig City, Philippines.
The power will be supplied by the Tongonan geothermal power plant in Kananga, Leyte under a two-year contract. The PPA was forged through Green Core Geothermal Inc., the retail electricity arm of First Gen.
First Gen will supply to Megaworld’s Uptown Place Towers 1, 2 and 3 and to the flagship Alliance Global Tower, which houses the headquarters of Megaworld parent firm Alliance Global Inc. and its subsidiaries including Megaworld.
The contract highlights the commitment of Megaworld and First Gen to promoting sustainable, affordable and clean energy and campaigning against climate change.
Source: Manila Standard