AdventEnergy has announced a deal to supply 2 megawatts of renewable power to 153 branches of Chinabank across the Philippines, under the country's retail aggregation program. The agreement, reported by SolarQuarter, marks a significant step in the bank's shift toward sustainable energy sources.
The retail aggregation program, introduced by the Philippine government, allows qualified end-users to collectively purchase electricity from renewable energy providers. This arrangement enables businesses like Chinabank to access clean energy at competitive rates while supporting national renewable energy targets.
The 2 MW supply will help reduce Chinabank's carbon footprint across its branch network. AdventEnergy, a renewable energy supplier, is expected to deliver the power from its generation facilities, contributing to the Philippines' goal of increasing renewable energy in the country's power mix.