Aug 08, 2022
Leading food brand manufacturer Monde Nissin Corporation (MNC) is moving toward the use of renewable energy with First Gen Corporation subsidiary Energy Development Corporation (EDC) to fortify its commitment to finding sustainable solutions for food security.
The group, composed of Monde Nissin Corporation, Monde M.Y. San Corporation, and Sarimonde Foods Corporation, has signed up for close to 16 megawatts (MW) of clean power for its nine facilities in the Philippines to lower its operations’ carbon footprint as part of its sustainability commitment. The supply agreement between the two companies was finalized in 2021 and commenced for five of its facilities last month. Two other facilities will start getting their power supply in December this year and two more next year.
MNC recognizes the role it plays in the well-being not only of its consumers but also of our planet. Part, therefore, of its commitment is to not only manufacture food products but to make them with the least carbon dioxide (CO2) emissions, a greenhouse gas being linked to adverse climate change and its destructive consequences such as stronger typhoons, more frequent floods, and longer droughts.
This awareness explains the group’s decision to partner with First Gen’s geothermal subsidiary. Geothermal energy hardly emits any C02 into the atmosphere. Under MNC’s partnership with EDC, the MNC group expects to cut in half – or by as much as 100,000 tons per year – its annual emission of carbon dioxide.
“The message is clear and consistent. We should embrace sustainability and look into more ways of incorporating sustainable practices in our businesses. What Monde Nissin and First Gen made possible is just a fraction of what the world needs. Let us hope that more companies move in this direction for the sake of the planet and future generations.” said MNC Chief Sustainability Officer Marivic Cajucom-Uy.
MNC’s five-year power supply comes from EDC’s Unified Leyte geothermal power plant complex, one of the company’s largest facilities. Geothermal energy is considered the “Holy Grail” of RE technologies; because – unlike other RE sources – it can provide uninterrupted, year-round baseload power, rain or shine. Thus, EDC refers to it as Geo 24/7.
“It is heartening to partner with like-minded companies who are also as committed to addressing society’s present needs without harming the ability of future generations to meet theirs. And our new partners do this by making a conscious decision to create a more positive impact on its consumers and on the environment through shifting to RE. We thank MNC for joining us in our journey towards a decarbonized and regenerative future by choosing our green power supply,” said Carlo Vega, Vice President and head of First Gen’s Power Marketing, Trading, and Economics.
Vega assures MNC that EDC will continue to collaborate with them to provide better energy solutions that will help the group meet its sustainability targets.
Apart from being able to lower their carbon footprint, MNC will also enjoy more affordable electricity rates because of the value-added tax zero rating on geothermal power generation. Moreover, geothermal rates are stable and relatively predictable; they are not indexed to any fuel commodities and foreign currencies that are subject to fluctuation.
EDC has over 1,480-MW total installed capacity which accounts for 20% of the country’s total installed RE capacity. Its 1,185.40-MW geothermal portfolio accounts for 62% of the country’s total installed geothermal capacity, making the Philippines the third largest geothermal producer in the world. First Gen is the Philippines’ leading clean energy company. Aside from geothermal, First Gen’s portfolio of power plants runs on hydro, solar, wind, and natural gas, considered the cleanest form of fossil fuel. Email [email protected] to know more about switching to RE through First Gen-EDC.