Berde Renewables, a distributed energy platform under I Squared Capital, has announced a power purchase agreement with Holcim Philippines, a member of the Holcim Group. This agreement pertains to the development of solar rooftop projects on two Holcim plants, located in Bulacan and La Union.
Berde Renewables will be responsible for building, operating, and maintaining these rooftop solar facilities, which will have a combined capacity of 5.5 MWp and an estimated annual generation of 7.8 GWh.
These solar facilities are set to become operational in 2024 and are projected to reduce greenhouse gas emissions by approximately 5,500 tCo2e annually. This initiative aligns with Holcim’s goal to decrease Scope 2 emissions by 65 per cent by 2030.
Patrick Zhu, CEO of Berde Renewables, expressed pride in partnering with Holcim to provide clean energy for their plants and support their decarbonization objectives. He emphasized the company’s comprehensive capabilities, ranging from project development and construction to operations, and highlighted I Squared’s global experience in renewable energy investments, which totals nearly 5.8 gigawatts.
Horia Adrian, President, and CEO of Holcim Philippines underlined the company’s significant strides in decarbonization, including a more than 20 per cent reduction in carbon footprint since 2018. He recognized the partnership with Berde Renewables as a vital step in advancing Holcim’s commitment to Net Zero goals and the country’s environmental targets.
In summary, this collaboration represents a key initiative to introduce rooftop solar projects within the Philippine cement industry and support commercial and industrial clients in transitioning to clean energy.