MANILA, Philippines — Singapore-based TotalEnergies ENEOS will put up the largest rooftop solar photovoltaic system in the Philippines to support Real Steel Corp. (RSC)‘s efforts to lead the transition of the steel manufacturing industry toward a more sustainable future.
TotalEnergies ENEOS is set to develop a 16.8-megawatt-peak rooftop solar photovoltaic system at RSC’s manufacturing facility in San Simon, Pampanga.
The project seeks to significantly reduce operational expenses and carbon footprint of the nation’s first high-speed rolling mill.
It will involve the installation of over 22,000 solar modules which will generate 26,000 megawatt-hours of renewable electricity annually and slash RSC’s carbon emissions by approximately 12,800 tons of carbon dioxide per year.
TotalEnergies ENEOS will also maintain the solar photovoltaic system, while RSC will be the operator and owner of the asset from the commissioning.
The business model proposed by TotalEnergies ENEOS ensures a neutral cash flow for RSC for the first 10 years of engagement.
Afterwards, RSC will fully benefit from the asset for its entire lifespan of around 30 years.
“We are thrilled to collaborate with RSC in providing their facilities with renewable energy and to actively contribute to their long-term sustainability and growth objectives. We are dedicated to supporting RSC as a green lane strategic investment in the Philippines Development Plan 2023-2028,” said Elodie Renaud, director of TotalEnergies ENEOS Renewables Distributed Generation Asia.
“As a leading solar service provider for commercial and industrial businesses, TotalEnergies ENEOS is committed to aiding companies like RSC in reducing their energy costs and carbon footprint through our expertise in tailored renewable solutions,” Renaud said.
TotalEnergies ENEOS is a 50-50 joint venture between global multi-energy firm TotalEnergies and Asian energy and materials company ENEOS.
The company is committed to provide affordable and clean energy, which is a key contributing factor to the Philippine economy.
RSC, on the other hand, is a manufacturer of steel deformed bars.
Its cutting-edge melting and rolling mill facilities in San Simon are equipped for the production of high-quality steel products.
“Real Steel Corp. is dedicated to spearheading sustainable practices within the steel industry. Under President Marcos, the Philippines will be focused on infrastructure development and this will propel the steel demand,” RSC CFO William Chen said.
“By implementing the largest rooftop solar PV system in the Philippines, we are accelerating the production of lower carbon, high-quality steel products for the Philippine market,” Chen said.