J.P.Morgan Chase Philippines Unit Inks Renewable Energy Deal

ACEN Renewable Energy Solutions (ACEN), the supply retail electricity unit of the Philippine conglomerate the Ayala Group, has forged a partnership with the Philippine office of JPMorgan Chase Bank, to supply 100% of renewable energy to power its corporate headquarters in the country.

Through its lessor, Asia Affinity, JPMorgan Chase signed a Retail Electricity Supply Agreement with ACEN to power its 25-storey office building in Taguig City.

Renewable energy will be sourced from ACEN’s portfolio of wind, solar, and geothermal plants, with the switch to renewable energy estimated to avoid carbon dioxide emissions equivalent to around 4,700 cars off the road per year.

Carlos Ma. G. Mendoza, Senior Country Officer of J.P. Morgan, said: “Through this partnership and the shift to renewable energy solutions, we affirm our global commitment to environmental sustainability and our continued efforts to achieve a low carbon footprint for J.P. Morgan Chase in the Philippines.”

“The Ayala Group and J.P. Morgan Chase have a long history of cooperation, and we are very proud that this relationship has evolved towards our shared value of sustainability. We are grateful for their trust in ACEN as their renewable energy partner of choice,” said Eric Francia, CEO of ACEN.