Cebu-based steel manufacturer Chioson Development Corp. (CDC) has tapped Energy Development Corp. (EDC) for the supply of 750 kilowatts of renewable energy (RE).
EDC will source power from its geothermal facilities to energize CDC’s facilities. The power supply contract is valid until March 25, 2025.
“We are delighted to move into the RE space with First Gen and EDC. We want to have a sustainable and reliable renewable energy supplier to push our advocacy for producing rebar, nails, and pipes in a clean and sustainable way.
So by moving words into action, Chioson Development Corporation has chosen to source its power supply from geothermal energy to further reduce its own carbon footprint on the environment. With this investment towards clean energy we can leave a lasting impact for future generations,” said Bernard B. Chioson, chief operating officer of CDC.
Three of CDC’s facilities now enjoy a stable supply of clean power from EDC’s geothermal facilities. Considered as the “Holy Grail” among RE technologies, geothermal energy provides uninterrupted baseload power all year round.
Being powered by geothermal energy enables CDC to avoid 1.86 million tons of carbon dioxide in lieu of coal each year. This then enables construction companies to take a stand for the environment and indirectly lower their carbon footprint by getting materials from green companies like CDC.
Businesses with an average monthly electricity consumption of at least 100 kilowatts like CDC can now choose to get power from renewable sources with the help of the government’s Green Energy Option Program.
The program basically allows consumers to source from RE as opposed to consuming whatever is supplied by their distribution utility.
Shifting to RE through licensed GEOP providers like First Gen and EDC’s geothermal facilities is crucial to helping the country decarbonize and be a part of the solution to climate change.
EDC has over 1,480megawatts (MW) total installed capacity that accounts for 20 percent of the country’s total installed RE capacity. Its 1,181MW geothermal portfolio accounts for 62 percent of the country’s total installed geothermal capacity and has put the Philippines on the map as the third largest geothermal producer in the world.