MANILA, Philippines — Lopez-led energy solutions provider Pi Energy has partnered with specialist investment and development firm Climargy Inc. to develop energy efficiency and conservation (EE&C) solutions for business establishments.
In a statement over the weekend, Pi Energy said the recently signed agreement focuses specifically on developing EE&C projects mainly for commercial and industrial (C&I) companies.
It said the EE&C projects would be designed to remove massive amounts of excess, heat-trapping carbon dioxide (CO2) from the atmosphere and help businesses save on cost.
“Energy efficiency is the low-hanging fruit for decarbonization efforts and should be viewed as the first fuel that any economy must grant ‘priority dispatch’ before it optimizes traditional fossil fuels and renewable energy sources. It’s the least-cost option and fastest means to increase available energy capacities and abate greenhouse gas emissions,” Pi Energy chairman Federico Lopez said.
“Energy efficiency is fairly new in the region, so this partnership will be trailblazing 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 said.
For his part, Climargy president Alexander Ablaza said the EE&C partnership is a first in Asia, if not in all emerging markets around the globe.
“It is still quite rare that energy developers team up to execute a business partnership dedicated to EE&C project assets across multiple ESCOs (energy service companies) and multiple end-users,” Ablaza said.
“In partnership with the Lopez group, Climargy knows that we are rolling out a game-changer for EE&C markets,” he added.
The EE&C projects are aimed at reducing electricity usage of client companies by one terawatt-hour, translating to P7.5 billion in power cost savings through year 2040.
Pi Energy said its strategic partnership with Climargy also provides a wider platform to support the Lopez Group’s new mission of forging collaborative pathways for a decarbonized and regenerative future.
Studies have identified CO2 and other GHGs as culprits behind destructive weather patterns associated with climate change, such as more violent typhoons and floods, as well as longer droughts.
“A dramatic surge in demand for EE&C solutions is expected due to growing public awareness about climate change and its disastrous weather effects,” Pi Energy said.
It said the surge in demand for EE&C projects would get a boost from the government’s decision to pass the Energy Efficiency and Conservation Act of 2019, which offers tax and other incentives to companies that introduce and integrate EE into their operations.
Pi Energy specializes in developing and delivering for its customers sustainable and energy-efficient energy systems and data solutions that include renewable and distributed energy systems. It is a subsidiary of First Philippine Holdings Corp. (FPH), the Lopez-led conglomerate with a long history and advocacy to help fight climate change.
In contrast, Climargy delivers fully funded, off-balance-sheet infrastructure projects to reduce energy consumption and optimize energy bills through energy efficiency upgrades, retrofits and other energy efficiency measures being implemented under shared savings performance contracts.
The Philippine Star (by Catherine Talavera)