Wells Fargo inks RE supply agreement with Aboitizpower

WELLS Fargo International Solutions Llcphilippines has tapped Aboitiz Power Corp. for the supply of 7,500 MWH of renewable energy (RE) per year.

The deal also comes “bundled” with the International Renewable Energy Certificates to Wells Fargo’s Taguig facility. The energy supply will come from AP Renewables Inc.’s (APRI) Tiwi-makban geothermal plants in the provinces of Laguna, Batangas, and Albay.

“Over the years, Aboitizpower has taken great strides in fulfilling our groupwide sustainability goals. This partnership with Wells Fargo is a shared commitment towards building the market for renewables in this country. A multi-sectoral approach, of all stakeholders doing their part, will help us achieve the grid’s aspirational RE share of 35 percent by the end of the decade,” Aboitizpower FVP Juan Alejandro Aboitiz said.

The partnership with Aboitizpower is Wells Fargo’s first for geothermal energy.

“Renewable energy projects like Tiwi-makban are critical for helping us do our part to curb the impacts of climate change,” said Nate Hurst, head of Social Impact and Sustainability for Wells Fargo.

Wells Fargo has been utilizing RE for its operations since 2017.

We have been taking deliberate steps in our sustainability journey, with utilities being one of our major focus areas. This marks an important additional step in that direction. The conversion of our newest site in Manila toward adopting renewable energy is in alignment with our consistent focus on increasing sustainable use of resources and development in our corporate properties,” Wells Fargo Philippines Head of Corporate Properties Edzel Reyes said.

Aboitizpower is currently the country’s largest owner and operator of renewable energy based on installed capacity. Its brand of RE is called Cleanergy. “Wells Fargo’s pro-active support for Cleanergy is a good example of how environmentally-conscious corporations can strengthen their sustainability programs, and help build the market for renewables in the Philippines,” Aboitiz said.