PSE Tower Renews Clean Energy Deal with First Gen for Geothermal Supply

The Philippine Stock Exchange at One Bonifacio High Street Condominium Corporation (PSE at OBHS), which manages the PSE Tower, signed a renewed retail electricity supply agreement with First Gen Corporation. Under the agreement, First Gen will supply up to 5.1 megawatts (MW) of clean, renewable electricity from a geothermal power plant in Leyte operated by its subsidiary, Energy Development Corporation (EDC).

“We are pleased to renew our partnership with First Gen as we remain committed to pursuing our sustainability agenda. Climate change is a very real risk to all of us, and we must do what we can to mitigate our impact on the environment,” said Ramon Monzon, President of the Philippine Stock Exchange, Inc. (PSE, Inc.).

Monzon highlighted that maintaining the use of 100% renewable energy (RE) at the PSE Tower is part of the company’s strategy to minimize its carbon footprint. “By making sure that our place of business utilizes 100 percent RE and through strict adoption of relevant sustainability efforts, the PSE can continue to reduce its carbon footprint,” he added.

First Gen Chief Engagement Officer Carlo Vega welcomed the renewed partnership, emphasizing the company’s role in helping businesses transition to greener energy. “Each company and enterprise have different circumstances, and we make an effort to partner with our customers to help them in their decarbonization journeys,” Vega said.

PSE at OBHS first partnered with First Gen in 2021 to shift its electricity source to geothermal power as part of its broader sustainability goals. The renewed agreement demonstrates PSE’s ongoing commitment to environmental responsibility while maintaining efficient operations at the high-rise building.

The 26-story PSE Tower, which houses the PSE, Inc. headquarters, trading offices, and several other tenants, continues to align its operations with sustainability initiatives.

First Gen, through EDC, operates 13 geothermal power plants nationwide, with a combined capacity of nearly 1,200 MW, representing about 60% of the country’s total geothermal power capacity. This 24/7 baseload capability makes geothermal a reliable renewable energy source.

Beyond geothermal, First Gen’s diverse portfolio includes hydro, wind, and solar energy facilities, contributing over 512 MW of renewable power capacity. Additionally, it owns four natural gas plants with a combined capacity of 2,017 MW, which provide flexible support to the grid as more variable renewable energy projects come online.

By renewing its partnership with First Gen, PSE Tower continues to lead by example in the commercial sector, demonstrating how clean energy adoption supports sustainable business practices.

Stay updated on the latest in clean energy initiatives. Follow Power Philippines on Facebook and LinkedIn or join our Viber community for more stories on sustainability and innovation.