LOPEZ-LED energy solutions provider Pi Energy has forged a partnership with investment and development company Climargy Inc. to develop energy efficiency and conservation projects designed to remove carbon dioxide emissions and help businesses save on cost.
Under the agreement, Pi Energy and Climargy will jointly develop a portfolio of projects aimed at reducing electricity usage of client companies by one terawatt-hour, worth P7.5 billion in power cost savings, through year 2040.
Pi Energy Chairman Federico R. Lopez and Climargy President Alexander Ablaza called the partnership rare between two energy developers that focuses specifically on developing solutions mainly for commercial and industrial companies.
"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," the Pi Energy chairman Lopez said during the signing ceremony.
This strategic partnership also provides a wider platform to support the Lopez Group's new mission of forging collaborative pathways for a decarbonized and regenerative future.
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 Corporation (FPH), the Lopez-led conglomerate with a long history and advocacy to help fight climate change.
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 Manila Times (by Ben Gines, Jr.)