MANILA, June 30 (PNA) — Renewable energy lights up the way to the future.
This is what Gregorio Araneta, Inc. believes. The company — which started out managing the various business interests of renowned lawyer Don Gregorio Araneta’s family in 1931 — is now making its mark in real estate investment and development, as well as power generation.
“We want to be agents of change in the energy sector by investing in renewable energy projects,” says Gregorio Araneta III, CEO of Gregorio Araneta, Inc.
As such, Gregorio Araneta, Inc. partnered with Soleq to build solar farms in Ormoc City, Leyte and in Cadiz City, Negros Occidental.
With its solar farms approved by the Department of Energy, Gregorio Araneta, Inc. hopes to contribute to the reduction of carbon emissions through the use of renewable energy.
The 30MW project in Ormoc City began sometime after Typhoon Yolanda struck in November 2013. Clearing the land and, later, putting up and maintaining the solar panels created much-needed jobs for the locals and gave a significant boost to the region’s power supply.
In March 2015 — just six months after the USD50 million Ormoc solar farm started supplying power to the national grid — Gregorio Araneta, Inc. and Soleq began working on what is predicted to be the largest solar farm not just in the Philippines, but in South East Asia.
The 100MW solar farm project in Cadiz City, Negros Occidental, which costs around USD170 Million, is expected to be finished by December 2015.