Singapore-based TotalEnergies ENEOS has signed a 10-year agreement with Real Steel Corporation (RSC), a leading steel manufacturer, to provide a 16.8 megawatt-peak (MWp) solar rooftop photovoltaic (PV) system at its manufacturing facility in San Simon, Pampanga. This project aims to significantly reduce the operational expenses and carbon footprint of the nation’s first high-speed rolling mill.
With over 22,000 solar modules to be installed, the PV system will generate 26,000 megawatt-hours (MWh) of renewable electricity annually, leading to substantial cost savings for the RSC facility and a reduction in the company’s carbon emissions by approximately 12,800 tons of CO2 per year. This reduction is equivalent to planting 200,000 trees.
TotalEnergies ENEOS strongly believes in the active involvement of both local and multi-national businesses who are the key contributors to the remarkable growth of the country for over a decade. The company is committed to providing affordable and clean energy, which is a key contributing factor to the Philippine economy.
“Real Steel Corporation is dedicated to spearheading sustainable practices within the steel industry. Under President Ferdinand R. Marcos Jr., the Philippines will be focused on infrastructure development, and this will propel the steel demand. By implementing the largest solar rooftop PV system in the Philippines, we are accelerating the production of lower carbon high-quality steel products for the Philippine market,” William T. Chen, Chief Finance Officer of Real Steel Corporation explained.
Under the agreement, and through a tailored business model, TotalEnergies ENEOS will install and maintain the PV system, while RSC will be the operator and owner of the asset from the commissioning. The business model proposed by TotalEnergies ENEOS ensures a neutral cash flow for RSC for the first 10 years of engagement. Afterwards, RSC will fully benefit from the asset for its entire lifespan of around 30 years.
(Source: TotalEnergies ENEOS)
