Eton Properties to power key buildings with geothermal energy

ETON Properties Philippines, Inc. (EPPI), the real estate arm of Lucio Tan Group (LTG), said it is transitioning its major office and commercial developments to geothermal energy as part of the company’s wider sustainability drive.

In a statement on Monday, the company said Eton Centris BPO 5 will be the first to switch to geothermal power, to be followed by Eton Centris BPO 1 and 3, Centris Walk (including Walk Extension and Centris Estate), Eton Cyberpod Corinthian, and Eton WestEnd Square in December.

The initiative is expected to supply around 33 kilowatt-hours of clean energy annually, which the developer said could reduce carbon emissions by over 21,000 metric tons a year, or the equivalent of removing more than 4,000 vehicles from the road.

The shift forms part of LTG’s partnership with Lopez-led First Gen Corp. to accelerate the group’s transition to renewable energy. Eton Properties said it is among the first units within the conglomerate to complete the switch to renewables across its portfolio.

“This transition shows what sustainability looks like in practice. It is about operational discipline, sound governance, and long-term value,” said Eton Properties Chief Financial Officer and Chief Risk Officer Che Mutuc.

The move also supports Eton’s Beyond Green ESG strategy, aligned with LTG’s four sustainability pillars — long-term growth, value creation through products and services, good governance, and the welfare of employees and communities, it said.

Eton Properties earlier reported a 24% increase in first-quarter net income to P144 million from P116 million a year earlier.

Shares of parent firm LT Group, Inc. fell by 0.99% or 14 centavos to P14 apiece on Monday. — Beatriz Marie D. Cruz