MANILA, Philippines — Energy Development Corp. (EDC), a subsidiary of First Gen Corp., has been tapped by TDK Philippines for its renewable energy shift.
EDC will be powering TDK’s entire manufacturing plant in Laguna with 100 percent renewable energy.
EDC said TDK’s manufacturing plant would soon enjoy a stable supply of 2.5 megawatts of geothermal energy, enabling the company to avoid a minimum of 13,139 tons of carbon dioxide in lieu of coal each year.
Aside from lowering its carbon footprint, TDK will also be able to enjoy more affordable electricity rates that mainly come from having zero VAT on generation charges and fixed rates that are not indexed to any fuel commodities and foreign exchange, according to EDC.
“As a partner, we will make sure to support TDK’s sustainable business operations by supplying 100 percent renewable energy sourced from EDC’s Unified Leyte and Green Core Geothermal Inc. power facilities,” said Arlene Soriano, head of First Gen’s power marketing and sales.
Soriano said TDK’s green initiatives are also aligned with First Gen and EDC’s decarbonization and regeneration mission.
TDK Group is committed to be a part of the solution to various environmental and social issues related to climate change, thus the shift to renewable energy.
“The partnership with First Gen is a big step for TDK Philippines to achieve our environmental mission to a cleaner, decarbonized world. TDK will continue to reach its environmental targets from the perspective of the entire supply chain and create value for a sustainable society,” TDK president and chief executive officer Tamotsu Aiba said.