Filinvest REIT buildings tap renewable energy

Filinvest REIT Corp., the real estate investment trust of the Gotianun Group, said it transitioned five of its office building properties to renewable energy (RE) sources under the government’s green energy option program (GEOP), according to a report by BusinessMirror.

The company said the switch signifies its commitment to environmental responsibility and marks “a significant milestone in the company’s journey towards a greener future.”

GEOP, a pioneering initiative led by the Department of Energy in accordance with the Renewable Energy Act of 2008, empowers consumers to opt for renewable energy as their primary energy source.

This program offers a choice to end-users to transition to an electricity supplier capable of delivering energy from 100 percent RE-generating facilities.

Filreit said eight buildings are now connected to RE sources. These were Vector One, Vector Two, Vector Three, iHub 1 and 2, Filinvest One, Filinvest Two, and Plaza A. This accounted for 45 percent of Filreit’s total consumption coming from renewable sources last year.

Plaza D led the switch in transitioning to renewable energy in January, with Plaza B, Plaza C, Plaza E, and 5132 following in February.

Filreit now has 13 buildings out of its 17 facilities in its renewable energy portfolio, accounting for 76 percent of its total properties.

Filinvest Three has also qualified for GEOP and aims to be powered by 100 percent RE by the third quarter.

Axis Tower One and Filinvest Cyberzone Cebu Tower 1 are slated to be supplied with RE starting June. The addition of Filinvest Three, Axis Tower One, and Filinvest Cyberzone Cebu Tower 1 will further expand the company’s renewable energy portfolio from 13 to 16 office buildings, covering 94 percent of Filreit’s total office portfolio in terms of number of properties.

“We are delighted to announce the successful transition of five key Filreit’s properties to renewable energy sources,” Maricel Brion-Lirio, the company’s president and CEO, said.

“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. 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.”