REAL STEEL Corp. (RSC) is partnering with a Singapore-based renewable energy company to build a 16.8-megawatt-peak rooftop solar photovoltaic (PV) system in its manufacturing facility in San Simon, Pampanga.
“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,” William T. Chen, chief finance officer of RSC, said in a media release over the weekend.
The company said it had inked the deal with TotalEnergies ENEOS for the project, which is aimed at significantly reducing operational expenses and the carbon footprint of its high-speed rolling mill.
TotalEnergies ENEOS is a joint venture between French energy and petroleum company Total Energies and Japanese oil company ENEOS.
With over 22,000 solar modules to be installed, the PV system will generate 26,000 megawatt-hours of renewable electricity annually, which will lead to “substantial cost savings” for the facility, RSC said.
The project would also reduce the company’s carbon emissions by approximately 12,800 tons of carbon dioxide per year equivalent to planting 200,000 trees.
Under the agreement, TotalEn-ergies ENEOS will install and maintain the PV 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,” RSC said, adding that it “will fully benefit from the asset for its entire lifespan of around 30 years.”
The signing of the agreement was witnessed by executives of RSC and TotalEnergies ENEOS, as well as by Marissa P. Cerezo, the director of the Department of Energy’s Renewable Energy Management Bureau, and Rémy Tirouttouvarayane, deputy head of mission of the Embassy of France in Manila.
“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,” said Elodie Renaud, managing director of TotalEnergies ENEOS Renewables Distributed Generation Asia.
RSC, a manufacturer of steel deformed bars, has melting and rolling mill facilities in San Simon that are equipped to produce high-quality steel products. — Sheldeen Joy Talavera