FPH chairman and chief executive Federico Lopez made the announcement during the annual stockholders’ meeting of the company as he stressed the negative effect of emissions from coal-fired power plants in the environment.
“We are setting a higher bar for ourselves but, for us, it cannot be any other way. We will help power our nation’s growth ambitions yet achieve this in ways that recognize the need for a livable Philippines and a livable planet,” Lopez said.
“Today, let me state unequivocally and for the record that the FPH and its subsidiaries will not build, develop of invest in any coal-fired power plant. I’m certain that without having to look too far, this country already has many alternatives that do not mortgage the future of our children and future of our planet,” Lopez added.
Instead of building coal-fired power plants, Lopez said the Lopez Group would push with the development of geothermal power plants, as well as renewable energy sources like wind, solar and hydro.
Energy Development Corporation (EDC), a subsidiary of First Gen Corp. owns 12 integrated geothermal power stations in Leyte, Bicol, Southern Negros, and North Cotabato with an installed capacity of 1,169-MW.
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