December 8, 2023
Berde Renewables Signs a 20-year Power Purchase Agreement With Holcim Philippines to Deliver Solar Power
SINGAPORE—(BUSINESS WIRE)—Berde Renewables, a distributed energy platform of I Squared Capital, announced today that it has signed a power purchase agreement with Holcim Philippines, a member of the Holcim Group, for solar rooftop projects on two of its plants. Berde Renewables will build, operate and maintain rooftop solar facilities on Holcim’s plants in Bulacan and La Union with a combined capacity of 5.5 MWp and an annual generation of approximately 7.8 GWh.
The rooftop solar facilities are expected to be commissioned in 2024 and projected to reduce greenhouse gas emissions by approximately 5,500 tCo2e per year. The project will accelerate Holcim’s journey to reduce Scope 2 emissions by 65 percent by 2030.
Patrick Zhu, CEO of Berde Renewables, said: “Berde Renewables is proud to partner with Holcim to deliver clean energy to their plants and support their decarbonization goals. We will combine our end-to-end in-house capabilities, from project development and construction to operations, with I Squared’s global experience investing in close to 5.8 gigawatts of renewable energy assets, to deliver green energy for corporates in the Philippines. The project is the first rooftop solar project for the cement industry in the Philippines and underscores Berde Renewables’ capabilities to support commercial and industrial consumers in their transition to clean energy.”
Holcim Philippines President and CEO Horia Adrian: “We have reached significant decarbonization milestones, reducing our carbon footprint by more than 20 percent since 2018, with our focus on blended cements, alternative fuels and raw materials, and operational efficiency. This project further strengthens our ability to support the Holcim Group’s Net Zero direction and the country’s Nationally Determined Contributions as well as help the country build greener. We thank Berde Renewables for this partnership and look forward to reaching new heights in decarbonizing building with their support.”
About Berde Renewables
Established by I Squared Capital to support the energy transition, Berde Renewables develops, constructs and operates distributed renewable energy projects to power commercial and industrial customers in the Philippines, enabling their transitions to sustainable energy and lowering their electricity bills.
About Holcim Philippines
Holcim Philippines, Inc. (Philippine Stock Exchange: HLCM) is one of the leading building solution companies in the country. The company has a deep portfolio of innovative solutions fostered by a full range of products from structuring to finishing applications that can help local builders execute with high performance and efficiency a wide range of projects from massive infrastructure to simple home repairs.
With cement manufacturing facilities in La Union, Bulacan, Batangas, Misamis Oriental and Davao, as well as aggregates and dry mix business and technical support facilities for building solutions, Holcim Philippines is a reliable partner of builders in the country.
Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy, Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving the circular economy as a world leader in recycling to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector, including Aggregate Industries, Disensa, Holcim Building Envelope, Geocycle, Holcim and Lafarge. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.
About I Squared Capital
I Squared Capital is an independent global infrastructure manager with over $37 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 240 professionals across its offices in Hong Kong, London, New Delhi, Singapore, Taipei, and Sydney. I Squared Capital has invested in a diverse portfolio of 72 companies in 59 countries with over 66,000 employees across the utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure sectors providing essential services to millions of people around the world.
No discussion with respect to specific companies should be considered a recommendation to purchase or sell any particular investment. The companies discussed do not represent all past investments. It should not be assumed that any of the investments discussed were or will be profitable, or that recommendations or decisions made in the future will be profitable.
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Holcim Philippines, Inc.
Don Gil Carreon