ACEN Corp. through its unit ACEN Renewable Energy Solutions (ACEN RES) has partnered with financial services firm JPMorgan Chase Bank, N.A. to supply the latter’s Philippine office in Taguig City with renewable energy.
The Ayala-led energy company said JPMorgan Chase, through its lessor Asia Affinity, signed a retail electricity supply agreement with ACEN RES to energize its 25-storey building in Taguig City.
“The Ayala Group and JPMorgan Chase have a long history of cooperation, and we are very proud that this relationship has evolved towards our shared value of sustainability. We are grateful for the trust in ACEN as the renewable energy partner of choice,” Eric T. Francia, president and chief executive officer of ACEN, said in a media release.
ACEN said it will source renewable energy from its portfolio of wind, solar, and geothermal plants.
“Through this partnership and the shift to renewable energy solutions, we affirm our global commitment to environmental sustainability and our continued efforts to achieve a low carbon footprint for JPMorgan Chase in the Philippines,” said Carlos Ma. G. Mendoza, senior country officer of JP.Morgan.
ACEN RES is the retail electricity supply business of ACEN. It focuses on providing renewable energy solutions to businesses to help meet their decarbonization targets while also helping them save on electricity.
ACEN has around 4,200 megawatts of attributable capacity spread across the Philippines, Vietnam, Indonesia, India, and Australia. The energy company is targeting to expand its renewable energy portfolio to 20 gigawatts by 2030.
At the local bourse on Tuesday, shares in the company closed unchanged at P5.15 each. — Ashley Erika O. Jose
