Monde Nissin, EDC ink supply contract
BY LENIE LECTURA – AUGUST 10, 2022
from Business Mirror
The Monde Group has inked a power supply deal with Energy Development Corp. (EDC) for the supply of 16 megawatts (MW) for the food brand manufacturer’s 9 facilities in the country.
Under their power supply deal, Monde Nissin Corp. (MNC) said 5 of its facilities already started receiving clean energy from EDC’s geothermal power facilities. Two other MNC facilities will start getting their power supply in December this year and two more next year.
The group is composed of Monde Nissin Corp., Monde M.Y. San Corp., and Sarimonde Foods Corp.
The supply contract is valid for 5 years.
MNC’s 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 renewable energy (RE) technologies; because it can provide uninterrupted, year-round baseload power, rain or shine. Thus, EDC refers to it as Geo 24/7.
EDC has over 1,480-MW total installed capacity that accounts for 20 percent of the country’s total installed RE capacity. Its 1,185.40-MW geothermal portfolio accounts for 62 percent of the country’s total installed geothermal capacity, making the Philippines the third largest geothermal producer in the world.
MNC said it is committed to not only manufacture food products but also 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 MNC’s decision to partner with the subsidiary of First Gen Corp., it said.
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. Also, it will enjoy more affordable electricity rates because of the value-added tax zero rating on geothermal power generation. Geothermal rates are stable and relatively predictable; they are not indexed to any fuel commodities and foreign currencies that are subject to fluctuation.
“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.
Carlo Vega, Vice President and head of First Gen’s Power Marketing, Trading, and Economics, assured MNC that EDC will continue to collaborate with them to provide better energy solutions that will help the group meet its sustainability targets.
“It is heartening to partner with like-minded companies who are also as committed in addressing the 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 of creating a more positive impact on its consumers and on the environment through shifting to RE,” said Vega.
