Axelum Resources Corp., a leading exporter of premium coconut products, has signed a power supply agreement with First Gen Corp. for up to 5.2 megawatts (MW) of geothermal energy, underscoring Axelum’s shift toward renewable energy (RE) to support its sustainability and operational goals.
The electricity will power Axelum’s manufacturing plant in Medina, Misamis Oriental, with energy sourced from the Mt. Apo Geothermal Power Plant operated by First Gen subsidiary, Energy Development Corp.
“This initiative forms an integral part of our core sustainability agenda and demonstrates our serious commitment to building climate resilience,” said Axelum president and COO Henry J. Raperoga. He added the move will help lower operational costs, reduce carbon emissions, and ensure energy reliability.
The deal leverages the Retail Competition and Open Access provision under the Electric Power Industry Reform Act (EPIRA) of 2001, allowing qualified customers to choose their electricity providers—a step aimed at enhancing market competition and transparency.
First Gen, the country’s largest clean energy provider, emphasized the commercial importance of using 24/7 geothermal power to support energy-intensive manufacturing. “Geothermal power is the only RE technology that can run 24/7… and can help reduce the carbon footprint of various industries,” said Carlo Vega, First Gen chief engagement officer.
Axelum’s partnership with First Gen is part of its broader circular economy strategy, which includes using coconut shells as industrial boiler fuel and maintaining a reforestation program to enhance carbon sequestration.
For First Gen, the deal reinforces its position as a key player in the transition to a low-carbon economy. Its portfolio includes 13 geothermal plants and over 400 MW of hydro, wind, and solar capacity, complemented by 2,017 MW of natural gas facilities to ensure energy stability.
The agreement marks a significant step for both companies in aligning environmental stewardship with long-term commercial resilience.
