Philippine Bio-Industries, Inc. (PBI), one of the country’s biggest exporters of refined carrageenan blends, tapped First Gen Corp. for a power supply deal from a renewable source.
PBI, through parent firm W Hydrocolloids, Inc. (WHI), finalized last month a one-year contract with First Gen’s licensed retail electricity supplier, Bac-Man Geothermal, Inc.
The deal will involve the supply of 650 kilowatts of electricity from First Gen’s 150 megawatts (MW) geothermal power plant in Bicol to energize PBI’s carrageenan production facilities in Calamba, Laguna.
However, the parties did not disclose the amount involved in the deal.
John Wee, WHI president, said the PBI facility in Laguna now uses 100 percent renewable energy. The company is also in the process of executing the same for the Carmona plant facility in Cavite.
“Our customers abroad, especially those in the European Union, are ramping up their respective sustainability programs in support of global efforts to stop the further build-up of carbon dioxide in the atmosphere that aggravates man-made climate change,” Wee said.
Meanwhile, Carlo Vega, First Gen vice president, said the partnership will be beneficial in efforts against climate change as it will displace carbon dioxide emissions. – Jed Macapagal
