Taguig City, Philippines, January 18, 2024 – TotalEnergies ENEOS has signed a long-term agreement with SteelAsia Manufacturing Corp., the country’s largest steel company and one of the world’s largest manufacturers of rebars, to install a 1.9 megawatt-peak (MWp) solar rooftop photovoltaic (PV) system at its Meycauayan, Bulacan facility in Philippines.
This project is SteelAsia’s latest sustainability initiative, aiming to contribute to the country’s commitments under the Paris Agreement to keep global warming at a maximum of 1.5 degrees centigrade above pre-industrial levels.
Once operational, the solar system is expected to generate approximately 2,700 megawatt-hours (MWh) of renewable electricity annually, realising significant cost savings for SteelAsia and reducing the company’s carbon footprint by about 2,300 tonnes of CO2 emissions annually, equivalent to planting over 34,500 trees.
Under the agreement, TotalEnergies ENEOS will fully fund, install the solar system, and operate it while SteelAsia will only purchase the electricity produced.
Andre Y. Sy, President of SteelAsia said, “This is the company’s latest action to de-carbonize and protect the environment, while it expands its operations. The company has six plants all over the country with additional plants planned in the coming years.”
Elodie Renaud, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia said, “We are pleased to be the chosen energy partner by SteelAsia, to support their decarbonization efforts. As a leading solar service provider for commercial and industrial businesses, TotalEnergies ENEOS is committed to helping customers to drive down both their energy costs and carbon footprint. We are dedicated to being a long-term energy partner for SteelAsia and look forward to more collaboration in the future.”
To learn more about TotalEnergies ENEOS tailored solar solutions, check out our free brochure, or contact us directly for more information.
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About TotalEnergies ENEOS Renewables Distributed Generation Asia Pte. Ltd.
The company is a 50/50 joint venture between TotalEnergies and ENEOS to develop onsite B2B solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2 GW of decentralized solar capacity over the next five years. https://solar.totalenergies.asia
TotalEnergies and renewables electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. At the end of 2023, TotalEnergies’ gross renewable electricity generation installed capacity was 22 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030. https://renewables.totalenergies.com/en
ENEOS Corporation and renewables electricity
ENEOS operates over 20 solar power plants in Japan and are also participating in renewable energy projects in the United States, Australia, and Vietnam. Furthermore, ENEOS is actively engaged in power generation projects using biomass, hydroelectric power, wind power, etc. This joint venture is ENEOS’ first overseas renewable energy project using distributed power sources.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, more sustainable, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
About ENEOS Corporation
ENEOS Group has developed businesses in the energy and nonferrous metals segments, from upstream to downstream. The Group’s envisioned goals for 2040 are: becoming one of the most prominent and internationally competitive energy and materials company groups in Asia, creating value by transforming our current business structure, and contributing to the development of a low-carbon, recycling-oriented society with the pursuit of carbon-neutral status in its own CO2 emissions. ENEOS Corporation, one of the principal operating companies in the Group, is contributing to achievement of the Group’s envisioned goals through a broad range of energy businesses.
About SteelAsia
SteelAsia uses the latest and greenest steel manufacturing technologies at its plants in Davao and Cebu. Approximately 80% of their energy requirements come from geothermal power. It also invested in automated furnaces that reduce emissions and ensure optimum burning, saving fuel by up to 30 percent compared to other furnaces. SteelAsia’s current project is to build the country’s first sections mill in Lemery, Batangas to produce H-beams for infrastructure and large angles for transmission and cell towers. These steel products are 100% imported like most others that are used in construction and infrastructure projects. SteelAsia is on a mission to build a full-fledged steel industry that will replace imports, generate jobs, and create new business opportunities upstream and downstream all over the country. www.steelasia.com
Cautionary Note TotalEnergies
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Cautionary Note ENEOS Corporation
The terms “ENEOS”, “ENEOS Group” in this document are used to designate ENEOS Corporation and the consolidated entities that are directly or indirectly controlled by ENEOS Corporation. This document contains certain forward-looking statements. Actual results may differ materially from those reflected in any forward-looking statement due to various factors, which include, but are not limited to, the following: (1) macroeconomic conditions and changes in the competitive environment in the energy, resources, and materials industries; (2) the impact of COVID-19 on economic activity; (3) changes in laws and regulations; and (4) risks related to litigation and other legal proceedings.