Berde Renewables, a distributed energy platform backed by I Squared Capital, has recently sealed a noteworthy power purchase agreement with Holcim Philippines, a subsidiary of the Holcim Group. The accord centers around the development of solar rooftop projects situated on two Holcim facilities located in Bulacan and La Union.
Under this agreement, Berde Renewables assumes the responsibility of constructing, operating, and maintaining these rooftop solar facilities. Collectively, these solar installations will boast a capacity of 5.5 megawatts peak (MWp) and are estimated to generate around 7.8 gigawatt-hours (GWh) of clean energy on an annual basis.
The anticipated operational commencement of these solar facilities is set for 2024, with an eye on achieving a substantial reduction in greenhouse gas emissions amounting to approximately 5,500 metric tons of CO2 equivalent (tCO2e) annually. This joint venture aligns seamlessly with Holcim's ambitious objective to curtail its Scope 2 emissions by a remarkable 65 percent come 2030.
Patrick Zhu, the CEO of Berde Renewables, expressed his pride in forging this partnership with Holcim to supply sustainable energy to their industrial plants and to support their eco-friendly decarbonization goals. He emphasized the comprehensive suite of capabilities at Berde Renewables, spanning project development, construction, and operational management. Furthermore, Zhu underscored the global expertise brought to the table by I Squared, with their extensive track record in renewable energy investments amounting to nearly 5.8 gigawatts.
Horia Adrian, President, and CEO of Holcim Philippines, lauded the organization's substantial progress in decarbonization efforts, highlighted by a noteworthy reduction in carbon footprint exceeding 20 percent since 2018. Adrian also recognized the strategic partnership with Berde Renewables as a pivotal step in advancing Holcim's commitment to Net Zero objectives and their alignment with the Philippines' environmental targets.