FEDERAL LAND, Inc., the property development arm of GT Capital Holdings, Inc., has shifted 4 residential developments inside its Metropolitan Park complex in Pasay City to 100% renewable energy (RE) under a multi-year supply agreement with ACEN Renewable Energy Solutions (ACEN RES), the retail electricity unit of ACEN Corp.
The agreement covers the ready-for-occupancy Six Senses Residences, Mi Casa Residences, Palm Beach Villas, and Palm Beach West, the corporate said in a press release on Friday last week.
The projects shifted to renewable energy through the federal government’s Green Energy Option Program (GEOP) and Retail Aggregation Program (RAP). GEOP allows electricity end-users with a minimum monthly demand of 100 kilowatts to decide on their renewable energy supplier, while RAP enables multiple facilities to mix their electricity demand to qualify for renewable energy sourcing.
Federal Property Management Corp., the property management arm of Federal Land, led the transition.
The corporate said the shift to renewable energy is meant to support its sustainability initiatives while reducing the developments’ exposure to electricity market volatility.
“This partnership with Federal Land demonstrates how renewable energy could be integrated into large-scale residential developments.
By transitioning these properties to our renewable energy portfolio, we’re helping Federal Land enhance the long-term value and resilience of its developments while advancing its sustainability ambitions,” said Tony Valdez, senior vice-president for market transformation and retail at ACEN.
ACEN, the listed energy platform of the Ayala group, has about 7 gigawatts of attributable renewable energy capability across the Asia-Pacific region. — Juliana Chloe A. Gonzales