ACEN RES to supply renewable energy to JPMorgan Chase Tower

MANILA, Philippines — ACEN Renewable Energy Solutions has entered into a partnership with the Philippine office of JPMorgan Chase Bank, N.A. to power its corporate headquarters in the country with 100 percent renewable energy.

JPMorgan Chase, through its lessor Asia Affinity, signed a retail electricity supply agreement with ACEN RES for 25 ACEN’s portfolio of wind, solar, and geothermal plants.

ACEN said the switch by JPMorgan Chase Tower to renewable energy is estimated to avoid carbon dioxide emissions equivalent to around 4,700 cars off the road per year.

“Through this partnership and the shift to renewable energy solutions, we affirm our global commitment to environmental sustainability and our continued efforts to achieve a low carbon footprint for JPMorgan Chase in the Philippines,” JPMorgan senior country officer Carlos Ma. Mendoza said.

The partnership falls under the Retail Competition and Open Access or RCOA program, which enables companies to choose their retail electricity supplier.

“The Ayala Group and JPMorgan Chase have a long history of cooperation, and we are very proud that this relationship has evolved towards our shared value of sustainability. We are grateful for the trust in ACEN as the renewable energy partner of choice,” ACEN CEO Eric Francia said.

ACEN RES is a company at the forefront of providing renewable energy solutions to help businesses meet their decarbonization goals.

ACEN, the listed energy platform of the Ayala Group, has about 4,400 megawatts of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India, with a renewable share of 98 percent.

The company aims to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 gigawatts of renewables capacity by 2030.

ACEN is also committed to transition the company’s generation portfolio to 100 percent renewable energy by 2025, and become a net zero greenhouse gas emissions company by 2050.