The Filinvest-ENGIE Renewable Energy Enterprise, Inc. (FREE) has signed a memorandum of understanding with Filinvest Land, Inc. (FLI) to explore opportunities in installing renewable energy generation facilities in Filinvest Innovation Parks at New Clark City and Ciudad de Calamba.
FREE is a joint venture company between FDC Utilities, Inc. (FDCUI), the power utility arm of Filinvest Development Corp. (FDC), and ENGIE Services Philippines, established in 2018 to deploy sustainable solar solutions in the Philippines.
"Upholding the Filinvest Group and ENGIE's commitment to supporting the Philippines' transition to zero-carbon energy, this partnership allows us to help bolster emerging sustainable, smart cities in the country," said FREE President and CEO Juan Eugenio Roxas.
He added that, “With these measures that improve energy efficiency and reduce carbon emissions, we, together with FLI, aim to deliver more impactful climate action.”
Filinvest Innovation Park at New Clark City is a 120-hectare sustainable business hub within the 288-hectare world-class, eco-efficient, and multi-use township Filinvest New Clark City.
It aims to provide modern and strategically-located warehouse and factory facilities to global and local businesses alike.
Filinvest Innovation Park at Ciudad de Calamba is a 25-hectare industrial development that aims to cater to the growing enterprises who wish to move or expand in Laguna.
"The Filinvest Innovation Parks are poised to be a catalyst for progress. Our industrial developments are master-planned for the needs of rapidly growing industries such as logistics, e-commerce, and data centers," said FLI Senior Vice President Francis Ceballos.
This newly-inked renewable energy initiative will be the first-of-its-kind for FLI's industrial and logistics business segment.
"We are excited to bring eco-efficient solutions to this business segment. This will not only create value for FLI but also for our partner tenants through competitive power rates and carbon footprint reduction," said FLI Chief Strategy Officer Tristan Las Marias.
This partnership will harness the combined expertise of Filinvest and ENGIE to develop sustainable energy solutions such as solar, district cooling, and facilities management to power smart, future-forward cities that drive and accelerate progress while reducing their carbon footprint.
Through the collaboration, FREE and FLI will embark on their first phase of cooperation by developing renewable energy generation systems in ready-built factories within the two Filinvest Innovation Parks.
"ENGIE empowers FLI to develop sustainable townships and business parks that are set to shape the Philippines landscape. With this partnership, we aim at contributing significantly to the country's journey towards net-zero emissions," said ENGIE Southeast Asia CEO Energy Solutions and Country Head Thomas Baudlot.
ENGIE is a global leader in low-carbon energy and services. In line with its commitment to sustainability, it partnered with the Filinvest Group to support the country's agenda to address and minimize the impacts of climate change, advance the renewable energy sector, and transition to clean energy.