Under the two-year deal, which starts this month, First Gen will supply 800 kilowatts of electricity from a subsidiary’s geothermal plant to power Menarco’s 32-storey tower in Taguig City.
“We are happy that our agreement with Menarco Development will complement Menarco Tower’s image as a very innovative, energy efficient, healthy, safe and hi-tech office boutique tower,” said First Gen VP Carlo Vega.
The Menarco Tower gained a singular distinction by being the first and only office tower in Southeast Asia to hurdle the stringent health and environment requirements to be WELL Certified™ Gold by the International Well Building Institute, and to gain a LEED Gold® Certification from the US Green Building Council.
“By consistently walking the talk, we take an active part in the country’s efforts to mitigate climate change and rolling blackouts. Together, we are part of the solution, not the problem,” said Carmen Jimenez-Ong.
Menardo, chairman of Menarco and a former president of GMA Network, was among Forbes’ top 50 richest Filipinos in 2020 with a net worth of $125 million.
Like its parent firm First Philippine Holdings Corp., First Gen recognizes the risks that humans face from climate change due to the continued buildup in the atmosphere of heat-trapping greenhouse gases, including those from power plants using carbon-intensive fossil fuel.
Aside from geothermal, First Gen’s portfolio of power plants run on renewable energy sources such as hydro, wind and solar.
The company also owns and operates power facilities that run on natural gas, considered the cleanest form of fossil fuel.