REGIONAL independent power producer Global Business Power Corp. (GBP) is shifting to provide sustainable energy solutions in a move to adapt to the current landscape in the sector.
GBP President Jaime T. Azurin said in a statement on Friday that this is part of GBP’s goal of powering “the nation’s growth” while being more responsive to environmental protection.
“We are realigning our strategy with the evolving energy market as well as the growing need to protect and conserve our environment for future generations,” he said.
At a recent management convocation, Mr. Azurin highlighted the importance of ensuring affordable, reliable, and sustainable energy in reaching the United Nations Development Programme’s Sustainable Development Goals.
The annual convocation also served as a strategic planning session and performance assessment for the company’s executives.
“Generating power, however, creates pressures on the environment,” Mr. Azurin said, pointing to the need for GBP to have a balanced energy mix and to look into how the opportunities in renewable energy can fit in the company’s portfolio.
“We must optimize resources available to us whether they’re conventional or renewable,” he added.
Last month GBP launched its Institute for Energy in Iloilo to promote clean coal technology and energy efficiency. The institute is also intended to develop and train GBP’s employees.
GBP, an associate of Metro Pacific Investments Corp. (MPIC), currently operates 11 power generation facilities in Aklan, Cebu, Iloilo, and Mindoro.
Last year, the energy firm acquired a 50% stake in Alsons Thermal Energy Corp. (ATEC), an energy provider in Mindanao. ATEC holds Alsons Consolidated Resources Inc.’s base load coal-fired power plant assets.
MPIC is one of the three Philippines units of Hong Kong-based First Pacific Co., Ltd., the two other firms being Philex Mining Corp. and PLDT, Inc.
Hastings Holdings, Inc., a. unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it also controls. — Anna Gabriela A. Mogato

RELATED ARTICLESMORE FROM AUTHOR