Lopez-led Energy Development Corp. will supply clean energy to TDK Philippines Corp.’s manufacturing plant in Laguna.
First Gen Corp. subsidiary EDC will supply TDK’s manufacturing plant with 2.5 megawatts of geothermal energy, enabling it to avoid at least 13,139 tons of carbon dioxide.
This is in line with the TDK Group’s Environment Policy and Medium Term Plan 2023. It has been implementing measures to reduce its carbon footprint by evaluating and calculating the energy-saving effect of its products since 2011.
“The partnership with First Gen is a big step for TDK Philippines to achieve our environmental mission to a cleaner, decarbonized world. TDK will continue to reach its environmental targets from the perspective of the entire supply chain and create value for a sustainable society, ” TDK president and CEO Tamotsu Aiba said.
Arlene Sy Soriano, head of First Gen’s Power Marketing and Sales, said EDC would supply 100 percent renewable energy sourced from its Unified Leyte and Green Core Geothermal power facilities.
EDC has over 1,480MW installed capacity, which accounts for 20 percent of the country’s total installed RE capacity.
The company’s 1,185.40 MW geothermal portfolio accounts for 62 percent of the country’s total installed geothermal capacity and has put the Philippines on the map as the third largest geothermal producer in the world.
Apart from being able to lower their carbon footprint, TDK will also enjoy more affordable electricity rates that mainly come from having zero VAT on generation charges and fixed rates that are not indexed to any fuel commodities and foreign exchange.