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    Category: Event

    Berde Renewables partners with Magic Group of Companies to expand solar energy in Northern Luzon

    Posted on by Berde Renewables

    SAN CARLOS CITY, PANGASINAN — Leading renewable energy firm Berde Renewables has solidified its commitment to expanding sustainable energy solutions in the Philippines through a strategic partnership with Northern Luzon retail giant Magic Group of Companies This collaboration marks a significant step toward advancing renewable energy adoption in the region, beginning with the installation of a 729-kilowatt peak (kWp) solar power system at Magic Mall San Carlos.

    The solar power purchase agreement (PPA) between the two companies is expected to be completed within a 12-month timeframe. The installation is projected to generate approximately 983,690 kilowatt-hours (kWh) of clean energy annually, translating to a reduction of 860 tons of carbon emissions over the next decade.

    Patrick Zhu, CEO of Berde Renewables, emphasized the importance of this partnership. “This collaboration with Magic Group of Companies is aligned with our mission to bring sustainable energy to more businesses across the Philippines. The solar project at Magic Mall San Carlos demonstrates how renewable energy can be seamlessly integrated into commercial operations, benefiting both the environment and the bottom line.”

    For Magic Group of Companies, this partnership underscores their commitment to sustainability. The CEO’s Executive Assistant Mr. Jarvin Chua stated, “Partnering with Berde Renewables is a key milestone in our shift toward greener operations. Beyond optimizing energy costs, this project reflects our long-term commitment to minimizing our environmental impact. We aim to replicate this success in our upcoming mall branches as part of our broader sustainability strategy.”

    As Berde Renewables expands its presence in the Philippines, it continues to drive the country’s transition to renewable energy, offering tailored solar solutions for businesses. The partnership with Magic Mall San Carlos highlights the growing momentum among Filipino companies to adopt renewable energy, aligning with national sustainability goals and carbon reduction efforts.

     

    About Berde Renewables Inc.

    Co-founded by clean energy leaders Morris Zhou and Patrick Zhu, Berde Renewables is an I Squared Capital portfolio company dedicated to the Philippines’ energy transition. They develop, build, and operate distributed renewable energy projects that empower commercial and industrial customers to switch to sustainable power, significantly reducing their electricity costs.

    Email: info@berderenewables.com Website: www.berderenewables.com

    About Magic Group of Companies

    The Magic Group of Companies is a family-run enterprise that has been operating in Northern Luzon since 1988. The company primarily engages in the real estate and restaurant sectors. Currently, their company manages a portfolio that includes shopping malls, supermarkets, appliance stores and food outlets

    Signing of a 20-year PPA w/ Holcim PH

    Posted on by Berde Renewables Team

    27 OCTOBER 2023 SINGAPORE, Berde Renewables, a distributed energy platform of I Squared Capital, announced today that it has signed a power purchase agreement with Holcim Philippines, a member of the Holcim Group, for solar rooftop projects on two of its plants. Berde Renewables will build, operate and maintain rooftop solar facilities on Holcim’s plants in Bulacan and La Union with a combined capacity of 5.5 MWp and an annual generation of approximately 7.8 GWh. 

    The rooftop solar facilities are expected to be commissioned in 2024 and projected to reduce greenhouse gas emissions by approximately 5,500 tCo2e per year. The project will accelerate Holcim’s journey to reduce Scope 2 emissions by 65 percent by 2030.

    Patrick Zhu, CEO of Berde Renewables, said: “Berde Renewables is proud to partner with Holcim to deliver clean energy to their plants and support their decarbonization goals. We will combine our end-to-end in-house capabilities, from project development and construction to operations, with I Squared’s global experience investing in close to 5.8 gigawatts of renewable energy assets, to deliver green energy for corporates in the Philippines. The project is the first rooftop solar project for the cement industry in the Philippines and underscores Berde Renewables’ capabilities to support commercial and industrial consumers in their transition to clean energy.”

    Holcim Philippines President and CEO Horia Adrian: “We have reached significant decarbonization milestones, reducing our carbon footprint by more than 20 percent since 2018, with our focus on blended cements, alternative fuels and raw materials, and operational efficiency. This project further strengthens our ability to support the HolcimGroup’s Net Zero direction and the country’s Nationally Determined Contributions. We thank Berde Renewables for this partnership and look forward to reaching new heights in decarbonizing building in the Philippines with their support.”

    About Berde Renewables
    Established by I Squared Capital to support the energy transition, Berde Renewables develops, constructs and operates distributed renewable energy projects to power commercial and industrial customers in the Philippines, enabling their transitions to sustainable energy and lowering their electricity bills. 

    About Holcim Philippines
    Holcim Philippines, Inc. (Philippine Stock Exchange: HLCM) is one of the leading building solution companies in the country. The company has a deep portfolio of innovative solutions fostered by a full range of products from structuring to finishing applications that can help local builders execute with high performance and efficiency a wide range of projects from massive infrastructure to simple home repairs.

    With cement manufacturing facilities in La Union, Bulacan, Batangas, Misamis Oriental and Davao, as well as aggregates and dry mix business and technical support facilities for building solutions, Holcim Philippines is a reliable partner of builders in the country.

    About Holcim
    Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving the circular economy as a world leader in recycling to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector, including Aggregate Industries, Disensa, Holcim Building Envelope, Geocycle, Holcim and Lafarge. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

    About I Squared Capital
    I Squared Capital is an independent global infrastructure manager with over $37 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 240 professionals across its offices in Hong Kong, London, New Delhi, Singapore, Taipei, and Sydney. I Squared Capital has invested in a diverse portfolio of 72 companies in 59 countries with over 27,000 employees across the utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure sectors providing essential services to millions of people around the world.

    No discussion with respect to specific companies should be considered a recommendation to purchase or sell any particular investment. The companies discussed do not represent all past investments. It should not be assumed that any of the investments discussed were or will be profitable, or that recommendations or decisions made in the future will be profitable.