Connect with us

Hi, what are you looking for?


Lopez-led PI Energy, Climargy plan to develop energy efficiency projects

PI Energy, Inc., an affiliate of First Gen Corp., recently signed a partnership deal with Climargy, Inc., a specialist investment and development company, to develop energy efficiency and conservation (EE&C) projects for businesses.

The two companies aim to cut the electricity use of their client companies by one terawatt-hour — saving P7.5 billion in power costs — through year 2040.

The EE&C projects will help “remove massive amounts of excess, heat-trapping carbon dioxide (CO2) from the atmosphere,” the Lopez-led PI Energy said in a statement released over the weekend.

At the signing ceremony on Dec. 9, PI Energy Chairman Federico R. Lopez said that energy efficiency is fairly new in the region, so the partnership will be a “trailblazer” in the support and financing of energy conservation.

“Once in full play, it brings us closer to that reimagined and redesigned world that we often speak of with all the attendant benefits to businesses, consumers, energy producers, the economy, and the environment,” he added.

Climargy President Alexander D. Ablaza described the deal as a “game changer” in the EE&C market.

“It is still quite rare that energy developers team up to execute a business partnership dedicated to EE&C project assets across multiple energy service companies and multiple end users,” Mr. Ablaza said.

President Rodrigo R. Duterte signed Republic Act 1128 or the Energy Efficiency and Conservation Act in 2019, after almost three decades in Congress. The goal was to systematize energy efficiency and conservation measures by regulating energy-efficient technologies.

The law provides tax incentives to companies with EE&C initiatives in their operations.

On May 11, the Department of Energy issued the guidelines for submitting energy efficiency projects for fiscal incentives. The projects must cost at least P10 million and meet a minimum 15% project boundary or the absolute value of energy savings. — Marielle C. Lucenio

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Data is becoming the lifeline of businesses today. Organizations are beginning to realize that they have to know how to store and manage data...


Five-dollar bills are inspected at the Bureau of Engraving and Printing in Washington, D.C., March 26, 2015. — REUTERS THE PHILIPPINES’ dollar reserves dipped...


Families enjoy taking pictures around Luneta Park in Manila, Nov. 28. Economic managers are targeting 6.5-7.5% gross domestic product growth this year, and 6-7%...


Students attend a cooking class at the Technical Education, Skills and Development Authority (TESDA) training school in Taguig City, March 23. — PHILIPPINE STAR/...


Filipino fans attend K-pop group NCT 127’s concert at the SM Mall of Asia in Pasay City, Sept. 2. Aside from NCT 127, many...


SAM WORTHINGTON in Avatar: The Way of Water LONDON — Filmmaker James Cameron is taking audiences back to his visually mesmerizing world of Pandora,...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.