GDF SUEZ via its subsidiary Cofely Philippines and Cyberzone Properties Inc. (CPI), a subsidiary of Filinvest Land.Inc. formalized their intention to pursue together, through a joint venture company, the development of a district cooling system at Northgate Cyberzone, the Information Technology park (*) at Alabang, Muntinlupa City, Manila. This agreement was signed on the occasion of the visit of the French President François Hollande in the Philippines.
The project, a first in the country, consists of a centralized chilled water plant (35 MW) supplying the 15 buildings (totalizing 390,000 sqm) owned by CPI for an estimated investment of €24 million. Cofely Philippines will be the project manager during the construction period and the operation & maintenance provider over a 20 year contract.
As the number one supplier of energy and environmental efficiency services in the world, Cofely guarantees that the district cooling system will cut annual energy consumption by half while providing clean power. More than these savings, the venture requires minimal maintenance while decreasing operating expenses of the CPI buildings, further lessening costs.
Thanks to this project, GDF SUEZ enters the energy market in the Philippines. It is fully in line with GDF SUEZ development in energy services in this area which includes the acquisition in 2014 of Keppel FMO in Singapore and the acquisition in 2012 of the urban cooling network of Cyberjaya in Malaysia.
This project, part of the efforts of sustainability of the Filinvest Group, will enable the Filinvest Group to support the strategy of the Government of the Philippines for the development of sustainable energy, with the support and expertise of GDF SUEZ in the field of energy efficiency.
(*) Northgate Cyberzone, registered IT zone, is designed, mastered-planned and built around the needs of technology-based companies engaged in Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO), education, learning and firm, software design and multimedia, call centers, e-commerce, banking and financial services.
About GDF SUEZ
GDF SUEZ develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services. GDF SUEZ employs 147,400 people worldwide and achieved revenues of €81.3 billion in 2013. The Group is listed on the Paris and Brussels stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).