Chioson Group, a Cebu-based steel manufacturer and property developer is set to be a carbon-neutral firm by 2025 as it completely shifted to renewal energy by tapping First Gen Corporation as its power supplier. First Gen will now be supplying Chioson’s total power requirement of 2,100 kW, with a new tap to supply 600 kW of clean energy for its subsidiary, Puresteel Manufacturing Corp. in Mandaue, Cebu.
The deal was inked by First Gen’s wholly-owned subsidiary First Gen Energy Solutions (FGES), with power to be sourced from geothermal plants in Leyte operated by Energy Development Corporation (EDC), another First Gen subsidiary.
According to Chioson Development Corp. (CDC) Chief Operating Officer and Concurrent Chief Executive Officer of Puresteel, their main reason for switching to renewable energy is to have a cleaner way to produce and manufacture steel, as they also want to reduce carbon footprint. Last year, the two companies also had an agreement to power CDC with 1,500 kW of clean energy from EDC’s Leyte and Bicol geothermal facilities.
Aside from geothermal plants, First Gen’s renewable energy portfolio includes hydropower, wind, and solar. It also owns and operates natural gas facility.
Energy Development Corporation (EDC) is the Philippines’ largest vertically integrated geothermal company; while First Gen Energy Solutions (FGES) serves as a licensed retail energy supplier of First Gen.
(Sources: PNA; Abs-Cbn News)