Blueleaf Energy will install 29 MWp of solar power capacity to supply renewable electricity for two cement plants of Holcim Philippines (PSE:HLCM).
Under a 20-year power purchase agreement (PPA), Blueleaf Energy will fund, build, operate and maintain the solar parks at Holcim Philippines' plants in Norzagaray, Bulacan and Bacnotan, La Union, a statement showed on Friday. The projected annual output of more than 50 GWh will supply up to 15% of the cement maker's energy needs at those plants.
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The solar projects are scheduled to be completed in 2024.
"Reducing the carbon footprint of our operations is one of our key sustainability commitments. This year, we have made great progress in this area by stepping up production of blended cements and replacing coal with alternative fuels," Holcim Philippines president and CEO Horia Adrian said.
The cement maker, a subsidiary of Swiss building materials group Holcim Ltd (SWX:HOLN), has a total of five manufacturing facilities as well as an aggregates and dry mix business and technical support facilities for building solutions.
Blueleaf Energy, which is a portfolio company of Australia's Macquarie Group (ASX:MQG), has developed and operated over 2 GW of solar assets, of which more than 250 MW in the Philippines.