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Manila Bulletin devider Business devider Trade & Industry devider First Gen supplies renewable power to PNB properties in Makati, Pasty

First Gen supplies renewable power to PNB properties in Makati, Pasty

Published Aug 24, 2026 12:00 am  |  Updated Aug 22, 2026 04:57 pm
PNB Holdings Corporation (PHC) has partnered with the First Gen Group (First Gen) for direct supply of geothermal energy from First Gen to two of PHC's prime properties: the PNB Financial Center in Pasay City and the PNB Makati Center in Makati City. Officials from both companies hold a signing ceremony to formalize the power supply partnership. Shown in photo are (from left) Arlene Sy Soriano, First Gen head of sales and engagement; Carlo Vega, First Gen chief customer engagement officer; Karl T. Say, PHC president; and Panciano S. Carreon Jr., PHC chief financial officer.
PNB Holdings Corporation (PHC) has partnered with the First Gen Group (First Gen) for direct supply of geothermal energy from First Gen to two of PHC's prime properties: the PNB Financial Center in Pasay City and the PNB Makati Center in Makati City. Officials from both companies hold a signing ceremony to formalize the power supply partnership. Shown in photo are (from left) Arlene Sy Soriano, First Gen head of sales and engagement; Carlo Vega, First Gen chief customer engagement officer; Karl T. Say, PHC president; and Panciano S. Carreon Jr., PHC chief financial officer.

Lopez-led First Gen Corp. (First Gen) has partnered with Philippine National Bank’s (PNB) real estate arm PNB Holdings Corp. (PHC) to supply renewable energy (RE) to its prime properties in Makati City and Pasay City.

In a statement last week, First Gen said it will supply five megawatts (MW) of power to two PHC properties: PNB Financial Center on Macapagal Avenue in Pasay and PNB Makati Center along Ayala Avenue.

The supply agreement will source the buildings’ energy requirements from the power firm’s Tongonan generation facility, allowing PNB Holdings to transition the two properties to RE.

“PNB Holdings’ transition to 100-percent RE across PNB Financial Center and PNB Makati Center through our partnership with First Gen reflects our commitment to more sustainable and responsible property operations, while maintaining efficiency and reliability,” said PHC Chief Financial Officer (CFO) Ponciano Carreon Jr.

“We believe this move will help reduce our environmental impact and support our goal of building more resilient and future-ready properties.”

PHC owns, manages, and develops commercial properties in Metro Manila and is focused on enhancing the value and performance of its real estate assets. Its portfolio includes office, retail, and event spaces.

Apart from the PNB-led real estate firm, First Gen also provides RE to other firms under the Lucio Tan (LT) group, including Philippine Airlines (PAL), Lufthansa Technik Philippines, MacroAsia SATS Food Industries Corp. (MSFI), MacroAsia Catering Services Inc. (MACS), Grandspan Development Corp., Absolut Distillers Inc., and Eton Properties Philippines Inc.

Arlene Soriano, First Gen head of sales and engagement, said the company’s collaboration with the LT group has expanded further into real estate, stating, “We look forward to supporting PHC in its journey toward decarbonization as it continues to invest in community experience and workspace environment and future-proof its property developments through sustainability-led innovations.”

Currently, First Gen has about 1,700 MW of generating capacity from 31 hydropower, geothermal, solar, and wind projects nationwide. - Gabriell Christel Galang

Related Tags

First Gen Corp. geothermal energy
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