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The Philippine Stock Exchange at One Bonifacio High Street Condominium Corporation (PSE at OBHS), manager of the PSE Tower, has renewed its retail electricity supply agreement with First Gen Corporation, reinforcing its commitment to sustainability and clean energy adoption. Under the new agreement, First Gen will continue to supply up to 5.1 megawatts (MW) of renewable energy sourced from a geothermal power plant in Leyte operated by its subsidiary, Energy Development Corporation (EDC). The deal ensures that the 26-story PSE Tower, which houses the Philippine Stock Exchange, Inc. (PSE, Inc.) headquarters, maintains its use of 100% renewable energy. “We are pleased to renew our partnership with First Gen as we remain committed to pursuing our sustainability agenda. Climate change is a very real risk to all of us, and we must do what we can to mitigate our impact on the environment,” said Ramon Monzon, President of PSE, Inc. Monzon added that the continued use of renewable energy at the PSE Tower is aligned with the organization’s broader carbon footprint reduction strategy. “By making sure that our place of business utilizes 100 percent RE and through strict adoption of relevant sustainability efforts, the PSE can continue to reduce its carbon footprint,” he noted. First Gen Chief Engagement Officer Carlo Vega welcomed the renewal, emphasizing the company’s mission to assist organizations in their decarbonization journey. “Each company and enterprise have different circumstances, and we make an effort to partner with our customers to help them in their decarbonization journeys,” said Vega. The collaboration between PSE at OBHS and First Gen began in 2021, marking a significant shift toward geothermal energy to power the tower’s operations. The renewal underscores PSE’s ongoing environmental stewardship while ensuring efficient energy use for its tenants and trading offices. EDC currently operates 13 geothermal plants across the Philippines, contributing approximately 1,200 MW — about 60% of the country’s total geothermal capacity. This renewable baseload energy ensures 24/7 reliability, making it a crucial component of First Gen’s energy portfolio. In addition to geothermal, First Gen’s renewable energy assets include hydro, wind, and solar power, with a combined capacity of over 512 MW. The company also operates four natural gas plants with a total capacity of 2,017 MW to provide grid stability as more intermittent renewable sources are introduced. By extending its partnership with First Gen, the PSE Tower continues to lead by example in the commercial real estate sector, demonstrating how clean energy integration supports sustainable and responsible business practices. |
