JPMorgan Taguig HQ goes 100% renewable
ACEN Corp. subsidiary, ACEN Renewable Energy Solutions (ACEN RES) has partnered with the Philippine office of JPMorgan Chase Bank to supply 100 percent of renewable energy (RE) to power its corporate headquarters in the country.
Through its lessor Asia Affinity, JPMorgan Chase signed a retail electricity supply agreement with ACEN RES to power its 25-storey office building in Taguig City.
Under the agreement, RE will be sourced from ACEN’s portfolio of wind, solar and geothermal plants which will help JPMorgan to annually avoid carbon dioxide emissions equivalent to around 4,700 cars off the road.
However, the parties did not disclose the capacity involved in the deal.
Carlos Ma. Mendoza, JP Morgan senior country officer, said in a statement that the move also affirms the company’s “global commitment to environmental sustainability” and continued efforts to achieve a low carbon footprint in the Philippines.
“The Ayala Group and JPMorgan Chase have a long history of cooperation and we are very proud that this relationship has evolved towards our shared value of sustainability. We are grateful for the trust in ACEN as the renewable energy partner of choice,” said Eric Francia, ACEN chief executive officer.
The entire ACEN group aspires to own 20 gigawatts (GW) worth of RE capacity by 2030.
Currently, ACEN has a diversified portfolio of 4.3 GW in renewable energy, both operational and under construction with 1.6 GW in the Philippines, 1 GW in Australia, 0.9 GW in Vietnam and Lao People’s Democratic Republic, 0.5 GW in India and 0.3 GW across Indonesia and other markets including the United States.
