ILOILO CITY — First Gen Corp. has signed an agreement to supply over 25 megawatts of geothermal energy to facilities owned by Alliance Global Group Inc. (AGI), including the Richmonde Hotel Tower-Iloilo. The landmark deal marks a significant shift toward renewable power for major commercial properties across the country.
A Cleaner Energy Source for Iloilo
The Richmonde Hotel Tower-Iloilo, a key property under Megaworld Corp., will now be powered by geothermal energy sourced from First Gen's Bacon-Manito facilities in Albay and Sorsogon. This transition aligns with Alliance Global's ambitious target of achieving full carbon neutrality by 2035. The move positions Iloilo as part of a growing network of sustainable commercial hubs.
First Gen Chief Customer Engagement Officer Carlo Vega emphasized that geothermal energy offers a reliable baseload source capable of running continuously. For Iloilo, this means businesses and hospitality establishments can operate with stable, clean power. The shift reduces dependence on fossil fuels while contributing to the province's environmental goals.
Beyond Iloilo: A Broader Sustainability Push
The supply agreement covers multiple Alliance Global properties across Metro Manila, Laguna, and Davao. These include Megaworld township developments, Venice Grand Canal Mall, ArcoVia City, and Emperador Distillers plants. The portfolio-wide transition underscores the conglomerate's commitment to reducing its carbon footprint.
Arnulfo Batac, Megaworld's Head of Sustainability, noted that electricity consumption significantly contributes to emissions. Harnessing renewable energy allows the company to lower greenhouse gas emissions without compromising service quality. The strategy proves that large-scale commercial operations can adopt clean energy seamlessly.
Economic and Environmental Benefits for Ilonggos
The shift to geothermal power brings tangible benefits to Iloilo City. It ensures a stable energy supply for the hospitality sector, which is vital for tourism and business activities. Reliable power also protects against operational risks associated with fluctuating fuel prices.
Furthermore, the move enhances Iloilo's reputation as a sustainable and forward-thinking destination. The city's growing portfolio of green initiatives attracts environmentally conscious investors and travelers. The Richmonde Hotel's transition to geothermal energy strengthens this positioning.
A Model for Corporate Sustainability
First Gen's partnership with Alliance Global showcases how private sector collaboration can drive meaningful climate action. The agreement demonstrates that companies can balance profitability with environmental responsibility. It serves as a template for other businesses in the region considering renewable energy adoption.
As Iloilo continues to grow as an economic powerhouse, sustainable energy practices will be crucial. The transition of major facilities like Richmonde Hotel Tower sets a positive example. It signals that the city is ready to embrace a cleaner, greener future.
