In its dedication to achieving net zero, First Gen Corporation is preparing 9,000 megawatts (MW) of renewable energy (RE).
In a report by Manila Bulletin, First Gen Chairman and CEO Federico R. Lopez said that the firm is eyeing to expand its low-carbon energy portfolio to 13,000 MW by 2030, 9,000 MW of which will come from RE.
Additionally, the Lopez group is planning to use gas as a transitional fuel, which emits 50% less carbon than coal.
Lopez added that its multifaceted portfolio of clean and renewable energy sources opened the best opportunity for the country’s energy transition to net zero, with several upcoming projects in hydro, solar, and wind energy slated for the next few years.
Specifically, for its subsidiary, Energy Development Corporation (EDC), Lopez mentioned their continuing multi-year well-drilling activities, with the goal to increase geothermal power output and deliver a more consistent supply of renewable energy around the clock.
Geothermal energy remains a “favored green choice” for many commercial and industrial end-users aiming for net zero due to its ability to provide continuous electricity.
In addition to its renewable energy plans, Lopez acknowledged the need to maintain a steady power supply during the energy transition, especially with the expected depletion of the Malampaya natural gas reserves.
To address this challenge, First Gen has completed a floating storage and regasification facility to import liquefied natural gas (LNG), ensuring a backup for its gas needs when Malampaya’s output falls short.
As part of its broader net-zero strategy by 2050, First Gen is also exploring new technologies and alternative fuels to repower its natural gas plants.
