Filinvest REIT Corp. Continues Renewable Energy Transition

Filinvest REIT Corp. (FILRT) has announced that five of its office building properties have successfully transitioned to utilizing renewable energy (RE) sources following the Government’s Green Energy Option Program (GEOP).

FILRT shared in its 2023 Annual and Sustainability Report that eight of its buildings are now connected to RE sources, namely Vector One, Vector Two, Vector Three, iHub 1 and 2, Filinvest One, Filinvest Two, and Plaza A. I Photo: Filinvest

The company noted that the GEOP, an initiative led by the Department of Energy (DOE) in the implementation of the Renewable Energy Act of 2008, empowers consumers to opt for RE as their primary energy source.

It likewise offers a choice to end-users to transition to an electricity supplier that is capable of delivering energy from 100 percent RE-generating facilities.

FILRT disclosed to the Philippine Stock Exchange (PSE) that the switch to RE signifies the company’s commitment to environmental responsibility and marks a significant milestone in the company's journey towards a greener future.

Maricel Brion-Lirio, President and CEO of FILRT, stated, “We are delighted to announce the successful transition of five key FILRT properties to renewable energy sources. This strategic move not only fulfills our longstanding sustainability commitments but also resonates with the core objectives of our tenants in forging a more sustainable future.”

She added, “It reinforces our belief that sustainability is a collective journey, and as enablers, we support our tenants to realize their own sustainability aspirations. By aligning with our tenants' values, we aim to enhance their satisfaction and potentially increase our occupancy.”

FILRT shared in its 2023 Annual and Sustainability Report that eight of its buildings are now connected to RE sources, namely Vector One, Vector Two, Vector Three, iHub 1 and 2, Filinvest One, Filinvest Two, and Plaza A.

The company underscored that this accounted for 45 percent of FILRT's total consumption coming from RE sources last year. It also said that its five properties that converted to RE in early 2024 include: Plaza D, Plaza B, Plaza C, Plaza E, and 5132.

This catapulted FILRT's RE portfolio to encompass 13 out of its 17 office buildings, accounting for 76 percent of its total properties, the company stressed.

Its Filinvest Three property has also qualified for the GEOP and is set to be powered by 100 percent RE by the third quarter of this year.

Additionally, Axis Tower One and Filinvest Cyberzone Cebu Tower 1 are slated to be supplied with RE starting June, FILRT said, adding that this would “further expand the company’s RE portfolio from 13 to 16 office buildings, covering 94 percent of FILRT’s total office portfolio in terms of the number of properties.”

FILRT emphasized that its dedication to the GEOP program reflects its belief in empowering consumers to make environmentally conscious choices while contributing to the growth of the renewable energy industry.

“By opting for renewable energy, consumers enjoy cost-effective energy solutions and play a pivotal role in fostering a cleaner, more sustainable environment,” FILRT concluded.