Lopez-led energy solutions provider Pi Energy has forged a landmark partnership with specialist investment and development company Climargy Inc. to develop for business establishments energy efficiency and conservation (EE&C) projects, designed to remove massive amounts of excess, heat-trapping carbon dioxide (CO2) from the atmosphere and help businesses save on cost.
Pi Energy Chairman Federico R. Lopez and Climargy President Alexander Ablaza held on Thursday, 9 December 2021, a ceremonial signing of their partnership agreement -- a rare contract in Southeast Asia between two energy developers that focuses specifically on developing EE&C solutions mainly for commercial and industrial (C&I) companies.
Chairman Lopez welcomed the partnership between Pi Energy and Climargy. According to him, “Energy efficiency is the low-hanging fruit for decarbonization efforts and should be viewed as the first fuel that any economy must grant ‘priority dispatch’ before it optimizes traditional fossil fuels and renewable energy sources. It’s the least-cost option and fastest means to increase available energy capacities and abate greenhouse gas emissions.
“Energy efficiency is fairly new in the region so this partnership will be trailblazing in the support and financing of energy conservation. Once in full play, it brings us closer to that reimagined and redesigned world that we often speak of with all the attendant benefits to businesses, consumers, energy producers, the economy, and the environment,” the Pi Energy chairman said during the signing ceremony.
Climargy President Ablaza, for his part, highlighted the importance of what he described Climargy’s “unique partnership” with Pi Energy. According to him, the EE&C partnership “is a first in Asia, if not in all emerging markets around the globe.
“It is still quite rare that energy developers team up to execute a business partnership dedicated to EE&C project assets across multiple ESCOs [energy service companies] and multiple end-users.
“In partnership with the Lopez group, Climargy knows that we are rolling out a game-changer for EE&C markets,” Ablaza added.
Under the partnership agreement, Pi Energy and Climargy will jointly develop a portfolio of EE&C projects, aimed at reducing electricity usage of client companies by 1 terawatt-hour, worth P7.5 billion in power cost savings, through year 2040.
Pi Energy’s strategic partnership with Climargy also provides a wider platform to support the Lopez Group’s new mission of forging collaborative pathways for a decarbonized and regenerative future.
Pi Energy specializes in developing and delivering for its customers sustainable and energy-efficient energy systems and data solutions that include renewable and distributed energy systems. It is a subsidiary of First Philippine Holdings Corporation (FPH), the Lopez-led conglomerate with a long history and advocacy to help fight climate change.
Climargy delivers fully funded, off-balance-sheet infrastructure projects to reduce energy consumption and optimize energy bills through energy efficiency upgrades, retrofits and other energy efficiency measures being implemented under shared savings performance contracts.
Studies have identified CO2 and other GHGs as culprits behind destructive weather patterns associated with climate change, such as more violent typhoons and floods, as well as longer droughts.
A dramatic surge in demand for EE&C solutions is expected due to growing public awareness about climate change and its disastrous weather effects. This surge in demand for EE&C projects will get a boost from government’s decision to pass as the Energy Efficiency and Conservation Act of 2019, offering tax and other incentives to companies that introduce and integrate into their operations EE&C programs.