ACEN Corp, a subsidiary of Ayala, has signed an agreement with JPMorgan Chase to provide renewable energy for the bank’s headquarters in the Philippines. ACEN Renewable Energy Solutions (ACEN RES) will source energy from Ayala’s portfolio of wind, solar, and geothermal plants to power JPMorgan’s 25-story office in Taguig City. This partnership aims to accelerate JPMorgan’s energy transition efforts and reduce its carbon dioxide emissions by the equivalent of 4,700 cars annually.
Not only will the agreement help JPMorgan meet its sustainability goals, but it will also provide cost savings and a reliable source of electricity supply. ACEN expects to begin commercial operations for 600 MW of renewable projects in the next six months. Additionally, ACEN plans to expand its renewable energy portfolio to 20 GW of capacity by 2030, spanning multiple countries including the Philippines, Indonesia, India, Australia, and Vietnam.
This collaboration highlights the commitment of both companies to environmental sustainability and the transition to clean energy solutions. It also demonstrates the potential for partnerships between renewable energy providers and major corporations to drive sustainable practices and mitigate climate change.
READ: ACEN to spend P70B this year to support clean energy ambition
ACEN currently owns and operates around 4.4 GW of renewable capacity, with an additional 1.1 GW of projects under construction in the Philippines. The company is also venturing into floating solar development, planning to lease an 800-hectare area on Laguna Lake to add at least 1 GW to its portfolio within the next few years.
READ: ACEN set to start Laguna Lake floating solar project
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
