The Philippine Stock Exchange at One Bonifacio High Street Condominium Corp. (PSE at OBHS) has renewed its retail electricity supply agreement with First Gen Corp., a move underscoring the growing corporate commitment to clean energy within the country’s commercial real estate sector.
Signed on 18 March, the deal ensures the continued supply of up to 5.1 megawatts of electricity from First Gen’s geothermal facilities in Leyte, operated by its subsidiary Energy Development Corp. (EDC). The power will sustain operations at the PSE Tower in Bonifacio Global City, home to the country’s main bourse and several financial tenants.
“This renewal is a testament to our commitment to sustainability,” said Ramon Monzon, president of the Philippine Stock Exchange, Inc., highlighting the 26-storey tower’s use of 100 percent renewable energy as a model for climate-conscious business operations.
The agreement, first established in 2021, aligns with broader corporate trends as Philippine companies increasingly integrate renewable energy into their operations to meet environmental, social, and governance (ESG) targets.
“This partnership reflects our customer-centric approach to decarbonization,” said Carlo Vega, First Gen chief engagement officer. “We tailor our energy solutions to meet our partners’ sustainability and operational needs.”
First Gen, one of the country’s largest clean energy producers, operates 13 geothermal plants with a combined 1,200 MW capacity—about 60 percent of the country’s geothermal supply. Its wider portfolio also includes hydro, wind, solar, and natural gas, strategically used to stabilize grid reliability.
The renewal solidifies the role of corporate real estate in the Philippines’ energy transition, with flagship buildings like the PSE Tower serving not only as major consumers but as visible advocates for sustainable development.
