AdventEnergy has signed an agreement to supply 2 megawatts of renewable power to 153 Chinabank branches across the Philippines through the country's retail aggregation program, SolarQuarter reported.
The retail aggregation program allows multiple customers to consolidate their electricity demand and negotiate as a single buyer, enabling Chinabank to source cleaner energy at competitive rates. AdventEnergy, a renewable energy supplier, will deliver the power from its generation facilities, supporting the bank's sustainability goals.
The deal marks one of the larger retail aggregation agreements in the Philippine banking sector, as financial institutions increasingly adopt renewable energy to reduce carbon footprints. The supply is expected to offset a significant portion of Chinabank's electricity consumption across its branch network.