First Gen has committed to supply Megaworld with 6.17 megawatts (MW) of geothermal power for Uptown Place Towers 1, 2, and 3; and to the flagship Alliance Global Tower, which houses the headquarters of Megaworld parent firm Alliance Global Inc. (AGI), as well as its subsidiaries.
Megaworld is considered one of the country’s biggest property firms. Its portfolio includes residential condominiums, subdivision lots and townhouses, malls, hotel brands, as well as office towers like Uptown Place and Alliance Global Tower.
First Gen vice president and head of corporate communications Ricky Caraandang welcomed the partnership, saying Megaworld shares the power generation firm’s vision of promoting sustainable, affordable and clean energy.
“Like our parent firm First Philippine Holdings Corporation, we recognize the risks that we humans are all facing from climate change due to the continued buildup in the atmosphere of heat-trapping greenhouse gases, including those from power plants using carbon-intensive fossil fuel,” Carandang said.
Aside from the RE projects, First Gen owns and operates power plants that run on natural gas, considered the cleanest form of fossil fuel. In total, First Gen’s portfolio of power plants has a combined capacity of 3,492 MW as of 2020.