Steel firm goes solar

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Singapore-based firm TotalEnergies ENEOS has partnered with Real Steel Corp. (RSC) for the installation of a 16.8 megawatts (MW) rooftop solar photovoltaic (PV) system at the latter’s manufacturing facility in San Simon, Pampanga.

The agreement signed last week involves the installation of over 22,000 solar modules expected to generate 26,000 megawatt hours of renewable electricity annually. This will  significantly reduce operational expenses and the carbon footprint of the country’s first high-speed rolling mill.

The rooftop solar project is also expected to reduce RSC’s carbon emissions by approximately 12,800 tons per year, equivalent to planting 200,000 trees.

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“…By implementing the largest rooftop solar PV system in the Philippines, we are accelerating the production of lower carbon, high-quality steel products for the Philippine market,” said William Chen, RSC chief finance officer, in a statement.

TotalEnergies ENEOS will install and maintain the PV system while RSC will be the operator and owner of the asset from the commissioning.

The business model proposed by TotalEnergies ENEOS also ensures a neutral cash flow for RSC for the first ten years of engagement. Afterwards, RSC will fully benefit from the asset for its entire lifespan of around 30 years.

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