The ADB headquarters will be powered by green energy

SUBSIDIARY ACEN Corp. will supply 100% renewable energy (RE) to the Asian Development Bank (ADB) headquarters in Mandaluyong.

ACEN said on Sunday that its subsidiary ACEN Renewable Energy Solutions has signed an agreement with ADB to provide 100% renewable energy for the bank’s headquarters in Mandaluyong.

“As the Asia-Pacific climate bank, ADB is committed to reducing its carbon footprint. This includes sourcing electricity from renewable sources such as solar and wind,” said Bruce Gosper, ADB Vice President for Administration and Corporate Governance.

For her part, ADB Director General for Corporate Services Lakshmi Menon said the company is taking sustainability measures to reduce electricity consumption at the bank’s headquarters.

“Despite the size of the ADB headquarters, we managed to use less energy than other buildings of the same size and occupancy level. As part of our sustainable development activities, we have continued to obtain electricity from renewable sources since 2014,” he added.

ACEN President and CEO Eric Francia said he was pleased to expand the partnership with ADB, as the institution has played a key role in driving renewable energy portfolio growth in the Philippines and the region.

“Going forward, I am delighted to expand the partnership to supply clean energy to ADB headquarters, thereby strengthening our cooperation,” Francia said.

Let us recall that in October last year, ADB and ACEN Corp. signed a sustainability-linked loan agreement of up to 5.5 billion pesos (approximately $100 million) to expand the Philippines’ solar energy capacity and support the country’s energy transition goals.

ACEN Corp. announced that it currently has 4.8 gigawatts (GW) of renewable energy capacity in operation and under construction, and has signed contracts and won tenders for over 1 GW.

Overall, the Ayala-led company said it has already effectively exceeded its initial goal of achieving 5 GW of renewable energy by 2025.

On Friday, ACEN Corp.’s share price rose by P0.14 to close at P5 per unit.

Ed Paolo Salting