TotalEnergies ENEOS and Real Steel Corporation (RSC), a leading steel manufacturer, have inked a 10-year deal for a 16.8 MWp solar rooftop PV system at RSC’s cutting-edge San Simon facility in Pampanga. This initiative aims to substantially reduce operational costs and carbon emissions at the nation’s inaugural high-speed rolling mill.
With over 22,000 solar modules, the PV system is projected to generate 26,000 MWh of renewable power annually, resulting in significant cost savings and a remarkable reduction of 12,800 tons of CO2 emissions each year for RSC, equivalent to planting 200,000 trees.
TotalEnergies ENEOS is deeply committed to collaborating with local and multinational businesses that have significantly contributed to the country’s impressive growth over the past decade. Their mission is to provide affordable and clean energy, playing a crucial role in the Philippine economy.
Per the arrangement, TotalEnergies ENEOS will handle the installation and maintenance of the PV system, while RSC will serve as the operator and owner once commissioned. This unique model guarantees RSC neutral cash flow during the initial decade. Subsequently, RSC will fully reap the benefits of the asset throughout its approximately 30-year lifespan.
The agreement signing was attended by Real Steel Corporation and TotalEnergies ENEOS executives, alongside Marissa P. Cerezo, Director of the Department of Energy – Renewable Energy Management Bureau, and Remy Tirouttouvarayane, Deputy Head of Mission at the Embassy of France in Manila. Deputy Head of Mission at the Embassy of France in Manila, Remy Tirouttouvarayane, commended the agreement between RSC and TotalEnergies ENEOS, highlighting it as a fruitful result of the collaboration between the Philippines and France in the energy domain.
“Real Steel Corporation is dedicated to spearheading sustainable practices within the steel industry. Under President Ferdinand R. Marcos Jr., the Philippines will be focused on infrastructure development, and this will propel the steel demand. By implementing the largest solar rooftop PV system in the Philippines, we are accelerating the production of lower carbon high-quality steel products for the Philippine market,” William T. Chen, Chief Finance Officer of Real Steel Corporation explained.
“We are trilled to collaborate with with RSC in providing their facility with renewable energy and to actively contribute to their long-term sustainability and growth objectives. We are dedicated to supporting RSC as a “green lane strategic investment” in the Philippines Development Plan 2023-2028. As a leading solar service provider for commercial and industrial businesses, TotalEnergies ENEOS is committed to aiding companies like RSC in reducing their energy costs and carbon footprint through our expertise in tailored renewable solutions”, said Elodie Renaud, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia.
“On behalf of the Department of Energy, we laud RSC’s initiative to lead the transition of steel manufacturing industry towards a greener and more sustainable future. This agreement with TotalEnergies ENEOS will certainly contribute in our efforts to bring the Philippines closer to our goal of increasing the share of renewable energy in power generation by 50% in 2040,” Marissa P. Cerezo, Director at the Renewable Energy Management Bureau of the Department of Energy declared.
“The steel industry is at the heart of economic activity and a major contributor to the development of the Philippines. Like many industries, it has to face up the challenges of energy transition. In this context, I am delighted to witness how Real Steel is leading the way for the whole local industry by installing rooftop PV system to its facility to reduce its carbon footprint. Presidents Marcos and Macron have agreed on defining energy security as one of the priorities of our bilateral cooperation. I am very pleased to witness that the French-Philippine partnership in the energy sector also translates into private sector-led projects,” Tirouttouvarayane stressed.