Filinvest-ENGIE Renewable Energy Enterprise, Inc. (FREE), the joint venture company of FDC Utilities, Inc. and ENGIE Services Philippines, starts the commercial operation of its 2.8-megawatts solar rooftop solution at Festival Mall in Alabang.
FREE completed the completed the installation of 5,303 photovoltaic solar panels that will supply about 28 percent of the mall’s peak demand and save close to 41,000 tons of carbon dioxide equivalent to removing approximately 9,000 cars off the roads of Metro Manila.
Last year, FREE signed a 20-year solar power purchase agreement with Filinvest Land, Inc. as the solar project is under a build, own, operate and transfer model and requires no upfront capital expenditure.
FREE invests solely and recovers the cost through an electricity tariff paid by Festival Mall over the course of the contract.
