To reinforce its commitment towards sustainability, leading property company W Group Inc. has inked a deal with renewable energy provider First Gen Corporation through its seaweed and carrageenan subsidiary W Hydrocolloids Inc. (WHI).
WHI, situated in Laguna, will now make use of renewable energy to power its manufacturing operations.
The deal, which involves WHI’s carrageenan exporter arm Philippine Bio-Industries Inc. (PBI), will improve the company’s operations and further its environmental efficiency efforts. This move will make PBI the first-ever carrageenan factory in the Philippines to be 100% powered by clean energy.
“We are very excited to embark on this new journey to diversify and broaden our efforts to champion sustainability across our subsidiaries. It is high time that we explore other initiatives beyond the operation and development of our iconic green properties in Bonifacio Global City as we push further towards achieving our environmental goals in the company,” said W Group’s Chief Executive Officer Francis Wee.
In line with the agreement, First Gen, through its licensed retail electricity supplier Bac-Man Geothermal Inc. (BGI), will be supplying 650 kilowatts of electricity to fulfill the monthly requirement of WHI’s Laguna facility.
Apart from this partnership, WHI is also planning to power its Cavite plant in Carmona, which is expected to be completed by December 2021, with renewable energy. At present, the company is trying to secure a source.
Want more news like this one? Head over to Nation Builder PH Positive News Section for the latest updates.
Image credit: W Hydrocolloids Inc.