EDC to supply power to TDK Laguna plant
BY LENIE LECTURA – JUNE 13, 2022
from Business Mirror
File photo shows one of EDC’s 12 integrated geothermal power stations.
Energy Development Corp. (EDC) has been tapped to supply geothermal energy to the manufacturing plant of TDK Philippines Corp. in Laguna.
EDC, a subsidiary of First Gen Corp., has a geothermal capacity portfolio of 1,185.40 megawatts (MW) that accounts for 62 percent of the country’s total installed geothermal capacity and has put the Philippines on the map as the 3rd-largest geothermal producer in the world.
EDC will supply TDK 2.5 MW.
“The partnership with First Gen is a big step for TDK Philippines to achieve our environmental mission to a cleaner, decarbonized world,” TDK President and CEO Tamotsu Aiba said. “TDK will continue to reach its environmental targets from the perspective of the entire supply chain and create value for a sustainable society.”
Geothermal energy provides uninterrupted base-load power all year-round or what First Gen-EDC, the country’s leading renewable energy (RE) firm, refers to as Geo 24/7. Being powered by Geo 24/7 will enable TDK to avoid a minimum of 13,139 tonnes of carbon dioxide in lieu of coal each year.
“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.
TDK’s green initiatives, which include cutting down carbon emissions by 50 percent in 2035 and achieving net zero by 2050, are aligned with our decarbonization and regeneration mission. We are honored to be your partner in your initiatives and we are proud to share this journey with you,” said Arlene Sy Soriano, head of First Gen’s Power Marketing and Sales.
Apart from being able to lower their carbon footprint, TDK will also be able to enjoy more affordable electricity rates that mainly come from having zero-value added tax on generation charges and fixed rates that are not indexed to any fuel commodities and foreign exchange.
