Steel manufacturer cuts carbon footprint with geothermal
To cut down carbon emissions, steel manufacturer Chioson Development Corp. has signed a geothermal power purchase agreement with EDC in the Philippines.
Increasingly, corporations around the world are taking steps to cut down carbon emissions. Among them is steel manufacturing company, Chioson Development Corporation (CDC), which has begun to lower its operations’ carbon emissions as a result of shifting to renewable energy through First Gen-owned Energy Development Corporation in March this year, so SunStar.
“We are delighted to move into the renewable energy space with First Gen and EDC. We want to have a sustainable and reliable renewable energy supplier to push our advocacy for producing rebar, nails, and pipes in a clean and sustainable way. So by moving words into action, Chioson Development Corporation has chosen to source its power supply from geothermal energy to further reduce its own carbon footprint on the environment. With this investment towards clean energy we can leave a lasting impact for future generations,” said Bernard B. Chioson, chief operating officer of CDC.
Three of its facilities now enjoy a stable supply of clean power from EDC’s geothermal facilities. Considered as the Holy Grail among renewable energy (RE) technologies, geothermal energy provides uninterrupted baseload power rain or shine, all year round or what EDC refers to as Geo 24/7. Being powered by Geo 24/7 enables CDC to avoid 1.86 million tonnes of carbon dioxide in lieu of coal each year. This then enables construction companies to take a stand for the environment and indirectly lower their carbon footprint by getting materials from green companies like CDC.
The good news is businesses with an average monthly electricity consumption of at least 100 kilowatts like CDC can now choose to get power from renewable sources with the help of the government’s Green Energy Option Program (GEOP). Shifting to RE through licensed GEOP providers like First Gen and EDC’s geothermal facilities is crucial to helping our country decarbonize and be a part of the solution to climate change.
EDC, First Gen Corporation’s 100% RE subsidiary, has over 1,480MW total installed capacity that accounts for 20% percent of the country’s total installed RE capacity. Its 1,181MW geothermal portfolio accounts for 62 percent of the country’s total installed geothermal capacity and has put the Philippines on the map as the 3rd largest geothermal producer in the world.
Source: SunStar/ press release