FILINVEST Land, Inc. (FLI) announced on Tuesday that it signed a memorandum of understanding with Filinvest-ENGIE Renewable Energy Enterprise, Inc. (FREE) to explore installing renewable energy generation facilities in its projects in Tarlac and Laguna.

“This partnership allows us to help bolster emerging sustainable, smart cities in the country. With these measures that improve energy efficiency and reduce carbon emissions, we, together with Filinvest Land, aim to deliver more impactful climate action,” FREE President and Chief Executive Juan Eugenio L. Roxas said in a statement.

The facilities are expected to be built in Filinvest Land’s latest industrial development, Filinvest Innovation Parks at New Clark City in Tarlac and Ciudad de Calamba in Laguna.

The New Clark City park is a 120-hectare sustainable business hub while the park in Ciudad de Calamba is a 25-hectare industrial development.

“The Filinvest Innovation Parks are poised to be a catalyst for progress. Our industrial developments are master planned for the needs of rapidly growing industries such as logistics, e-commerce, and data centers,” Filinvest Land Vice-President Francis V. Ceballos said.

The renewable energy project will be the first of its kind for Filinvest Land’s industrial and logistics business segment.

“We are excited to bring eco-efficient solutions to this business segment. This will not only create value for Filinvest Land but also for our partner tenants through competitive power rates and carbon footprint reduction,” Filinvest Land Chief Strategy Officer Tristan D. Las Marias said.

“This partnership will harness the combined expertise of Filinvest and ENGIE to develop sustainable energy solutions such as solar, district cooling, and facilities management to power smart, future-forward cities that drive and accelerate progress while reducing their carbon footprint. Through the collaboration, FREE and Filinvest Land will embark on their first phase of cooperation by developing renewable energy generation systems in ready-built factories within the two Filinvest Innovation Parks,” Filinvest Land added.

FREE is a joint venture company between FDC Utilities, Inc., the power utility arm of Filinvest Development Corp. (FDC), and ENGIE Services Philippines. It was established to finance, build and operate renewable energy projects across the country.

The company focuses on developing solar energy rooftop systems that saves up to 30% of its energy spending while reducing carbon footprint and increasing grid reliability.

“FREE has multiple renewable energy projects in the pipeline with the end goal of promoting sustainable energy solutions to prospective industrial and commercial customers and supporting the Philippine government’s initiatives in reducing the country’s dependence on fossil fuels,” Filinvest Land said.

Filinvest Land is a full-range property developer, with over 200 residential developments across the country.

It is also developing two townships in the Clark Special Economic Zone, including an industrial and logistics park and mixed-use development at New Clark City and the Filinvest Mimosa+ Leisure City, which is in partnership with FDC.

At the stock exchange on Tuesday, Filinvest Land shares remained unchanged at P1.05 each. — Luisa Maria Jacinta C. Jocson