EDC tapped by Monde Nissin for RE supply

MANILA, Philippines — The Monde Nissin group has tapped First Gen Corp. subsidiary Energy Development Corp. (EDC) for the supply of renewable energy.

The group, composed of Monde Nissin Corp., Monde M.Y. San Corp., and Sarimonde Foods Corp., has signed up for close to 16 megawatts (MW) of clean power for its nine facilities in the country.

The move aims to lower the group’s carbon footprint.

EDC said the supply agreement was finalized in 2021 and commenced for five of its facilities last month.

Two other facilities will start getting their power supply by December and two more next year, it said.

Under the partnership with EDC, the Monde Nissin group expects to cut in half or by as much as 100,000 tons per year its annual emission of carbon dioxide.

The five-year power supply comes from EDC’s Unified Leyte Geothermal Power Plant complex, one of the company’s largest facilities.

“It is heartening to partner with like-minded companies who are also as committed in addressing the society’s present needs without harming the ability of future generations to meet theirs. And our new partners do this by making a conscious decision of creating a more positive impact on its consumers and on the environment through shifting to RE,” said Carlo Vega, vice president and head of First Gen’s power marketing, trading, and economics.

“We thank Monde Nissin for joining us in our journey towards a decarbonized and regenerative future by choosing our green power supply,” Vega said.

Apart from being able to lower their carbon footprint, Monde Nissin will also enjoy more affordable electricity rates because of the value-added tax zero rating on geothermal power generation.

Geothermal rates are stable and relatively predictable, as they are not indexed to any fuel commodities and foreign currencies that are subject to fluctuation.

“The message is clear and consistent. We should embrace sustainability and look into more ways of incorporating sustainable practices in our businesses. What Monde Nissin and First Gen made possible is just a fraction of what the world needs. Let us hope that more companies move in this direction for the sake of the planet and future generations,” Monde Nissin chief sustainability officer Marivic Cajucom-Uy said.

EDC has over 1,480 MW total installed capacity that accounts for 20 percent of the country’s total installed renewable energy capacity.

Its 1,185.40-MW geothermal portfolio accounts for 62 percent of the country’s total installed geothermal capacity.