Pampanga, Philippines, October 31, 2023 – TotalEnergies ENEOS has signed a 10-year agreement with Real Steel Corporation (RSC), a leading steel manufacturer, to provide a 16.8 megawatt-peak (MWp) solar rooftop photovoltaic (PV) system at its cutting-edge manufacturing facility in San Simon, Pampanga. This project aims to significantly reduce the operational expenses and carbon footprint of the nation’s first high-speed rolling mill.
With over 22,000 solar modules to be installed, the PV system will generate 26,000 megawatt-hours (MWh) of renewable electricity annually, leading to a substantial cost savings for the RSC facility and a remarkable reduction in the company’s carbon emissions by approximately 12,800 tons of CO2 per year. This reduction is equivalent to planting 200,000 trees.
TotalEnergies ENEOS strongly believes in the active involvement of both local and multi-national businesses who are the key contributors to the remarkable growth of the country for over a decade. The company is committed to provide affordable and clean energy, which is a key contributing factor to the Philippine economy.
“Real Steel Corporation is dedicated to spearheading sustainable practices within the steel industry. Under President Ferdinand R. Marcos Jr., the Philippines will be focused on infrastructure development, and this will propel the steel demand. By implementing the largest solar rooftop 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 Real Steel Corporation explained.
Under the agreement, and through a tailored business model, TotalEnergies 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. Afterwards, RSC will fully benefit from the asset for its entire lifespan of around 30 years.
“We are trilled to collaborate with with RSC in providing their facility 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. 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, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia.
The signing of the agreement was witnessed by executives of Real Steel Corporation and TotalEnergies ENEOS, as well as by the Director of the Department of Energy – Renewable Energy Management Bureau, Marissa P. Cerezo, and Deputy Head of Mission at the Embassy of France in Manila, Remy Tirouttouvarayane.
“On behalf of the Department of Energy, we laud RSC’s initiative to lead the transition of steel manufacturing industry towards a greener and more sustainable future. This agreement with TotalEnergies ENEOS will certainly contribute in our efforts to bring the Philippines closer to our goal of increasing the share of renewable energy in power generation by 50% in 2040,” Marissa P. Cerezo, Director at the Renewable Energy Management Bureau of the Department of Energy declared.
Remy Tirouttouvarayane, Deputy Head of Mission at the Embassy of France in Manila, praised the deal between RSC and TotalEnergies ENEOS as an outcome of the partnership between the Philippine and France in the energy sector.
“The steel industry is at the heart of economic activity and a major contributor to the development of the Philippines. Like many industries, it has to face up the challenges of energy transition. In this context, I am delighted to witness how Real Steel is leading the way for the whole local industry by installing rooftop PV system to its facility to reduce its carbon footprint. Presidents Marcos and Macron have agreed on defining energy security as one of the priorities of our bilateral cooperation. I am very pleased to witness that the French-Philippine partnership in the energy sector also translates into private sector-led projects,” Tirouttouvarayane stressed.
About TotalEnergies in the Philippines
TotalEnergies has been present in the Philippines since 1998. The Company has over 500 employees in the country and is involved in multi-energy activities from fuel and lubricants distribution, renewable energies particularly commercial, industrial and utility scale solar, and shared service center operations that provide back-office support to TotalEnergies affiliates worldwide.
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 portfolio of activities in electricity and renewables. At the end of Q2 2023, TotalEnergies’ gross renewable electricity generation installed capacity was 19 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world’s top 5 producers of electricity from wind and solar energy. 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.
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, cleaner, more reliable and accessible to as many people as possible. Active in more than 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 Real Steel Corporation
Real Steel Corporation is a distinguished 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.
Cautionary Note TotalEnergies
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Cautionary Note ENEOS Corporation
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