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Lopez Holdings: Clean energy to cut greenhouse-gas emissions, support economic growth
By Leslie D. Venzon
MANILA, June 1 (PNA) -- Listed conglomerate Lopez Holdings Corporation said on Wednesday building natural gas-fired power plants can lower greenhouse-gas emissions as well as support economic growth.

Ambassador Manuel M. Lopez, chairman and chief executive officer of Lopez Holdings, said work continues on the power plants being built by First Gen Corporation through funding provided by its investee, First Philippine Holdings (FPH) Corporation.

Lopez said that despite some delays, the USD150-million Avion open cycle natural gas-fired power plant and the USD 600-million San Gabriel combined cycle natural gas-fired power plant have achieved project milestones.

Both power plants are currently undergoing commissioning.

He stressed these new power plants are vital in supporting the country’s goal toward inclusive growth.

“We must support economic growth with clean energy, to balance our current needs with those of future generations who will have to deal with greater crises from climate change,” he said during the conglomerate’s stockholders’ meeting.

Lopez said energy is needed to power local commerce and industry, as well as household consumption and services.

“Moreover, clean energy is necessary if our country will fulfill its commitment to COP21 (the 21st Conference of Parties, also known as the 2015 Paris Climate Conference), among them to reduce greenhouse-gas emissions conditionally by 70 percent by year 2030, in solidarity with other nations,” he said.

FPH subsidiary First Gen Corporation has the cleanest portfolio of power plants in the Philippines with electricity generated from steam, water, wind and natural gas.

“Its low carbon intensity means it releases lower carbon dioxide emissions and contributes less to global warming,” Lopez said.

Further, Lopez echoed the call of FPH for a low carbon future.

Lopez Holdings owns 46 percent of FPH and holds a 56 percent economic interest in ABS-CBN. (PNA)

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