Araneta Group has partnered with renewable energy provider First Gen to power its Ali Mall property in Quezon City.
According to an announcement released by First Gen, Araneta Group’s property arm – Araneta City Inc. (ACI) – has signed a deal with the Lopez-led company, specifically its subsidiary branch Bacman Geothermal Inc (BGI).
The new renewable power deal will see BGI supply Ali Mall with 2.1 megawatts of electricity, which will be sourced from the 132-MW Pantabangan-Masiway Hydroelectric Power Plant located in Nueva Ecija. The hydroelectric plant is owned by First Gen Hydro Power Corporation, another unit of First Gen.
“We at First Gen are happy that the Araneta Group has accepted our offer to be a partner in the task – even if daunting – of reducing the buildup of more heat-trapping carbon dioxide in the atmosphere,” First Gen Vice President for Marketing Carlo Vega said in a statement.
“We commend the Araneta Group at the same time for their support in adopting renewable energy. Small gestures like this, if taken together, will make a big difference in the fight against global warming and climate change. It reinforces our commitment to expand the development and use of clean and renewable energy for our power plants,” he added.
ACI’s Senior Vice President for Business Development, John Castelo, said Ali Mall’s transition to a renewable energy source is another milestone reached for the Araneta Group, which aims to implement more greener solutions to their growing urban community.
“This partnership is another milestone in the Araneta Group’s efforts to integrate environmental sustainability in property development,” he shared.
“We stay true to our legacy of providing pioneering and memorable experiences to the Filipinos, yet we keep our commitment to implement green solutions in our fast-growing urban community,” Castelo added.
The business group’s Ali Mall was built in 1976 and was named after legendary American boxer Muhammad Ali. It was the country’s first-ever fully-enclosed and airconditioned shopping center that doubled as a cinema hub.
In April of this year, First Gen also announced a similar deal with real-estate group Megaworld Corporation.
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Image credit: Araneta Group’s Official Website; First Gen’s Official Website