Ayala Land and Mitsubishi Corporation of Japan today announced that they have formalized a partnership to jointly engage in operations that will promote increased energy efficiency in the Philippines.
The initiatives of the joint-venture partnership will be conducted through Philippine Integrated Energy Solutions, Inc. (PhilEnergy), which will be owned 60% by ALI and 40% by Mitsubishi. PhilEnergy will be managed primarily by ALI in order to further enhance the competitiveness of its properties and even that of other potential third-party facilities by lowering energy consumption and increasing their sustainability footprint. Mitsubishi will play a critical role by providing critical technical support through its extensive network of affiliated energy-saving companies and which have leading track records in Japan and around the region. This is the latest cooperation between the Ayala and Mitsubishi groups, which is a long-term strategic partnership that stretches all the way back to 1974.
Antonino T. Aquino, president and CEO of ALI, said, “We are very excited about this new partnership with Mitsubishi Corporation. Being able to manage the occupancy costs for the tenants in our portfolio of leasing properties is going to be very critical to the continued success of ALI in this very competitive market environment. We are also fully committed to raising the bar for sustainability in our facilities, and even the country as a whole, and PhilEnergy will be a vital component of our strategy moving forward.”
In response, Nobuaki Kojima, executive vice president and group CEO of the global environment business development group, and director of Mitsubishi Corporation said, “ Today, I can truly say that we are proud of our involvement in PhilEnergy. I do hope PhilEnergy will expand its business not only in the Philippines but also overseas. And we at Mitsubishi promise to make every effort towards the success of this project.”
A key feature for the direction of the company will be the implementation of District Cooling Systems (DCS) in large ALI mixed-use developments which will provide significant savings on both capital expenditure and also operating costs through increased efficiency in the consumption of electrical and water utilities. In 2011, PhilEnergy has already allocated an investment of close to a billion pesos for the construction of two DCS plants which will serve the needs of the Ayala Center redevelopment in Makati and the Alabang Town Center. PhilEnergy is currently planning other DCS projects in Cebu, Davao, Cagayan de Oro, and Quezon City and will also tap into the large domestic and even regional market of facilities that require energy-saving solutions.