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Business

SteelAsia to install solar rooftop in Bulacan plant

Catherine Talavera - The Philippine Star
SteelAsia to install solar rooftop in Bulacan plant
In a statement yesterday, the company said it recently signed an agreement for the solar rooftop project with TotalEnergies of France.
STAR / File

MANILA, Philippines — Steel producer SteelAsia Manufacturing Corp. is set to install a 1.9 megawatt (MW) solar rooftop at its facility in Meycauayan, Bulacan as part of its efforts towards sustainability.

In a statement yesterday, the company said it recently signed an agreement for the solar rooftop project with TotalEnergies of France.

“Once operational, the solar plant will displace 2.3 million kg of carbon dioxide every year, thus contributing to the country’s commitments under the Paris Agreement to keep global warming at a maximum of 1.5 degrees centigrade above pre-industrial levels,” SteelAsia said.

TotalEnergies is a global multi-energy company established in 1924 in France and is active in more than 130 countries.

SteelAsia president Andre Sy said this is the company’s latest action to decarbonize and protect the environment while it expands its operations.

Currently, the company has six plants all over the country with additional facilities planned in the coming years.

SteelAsia uses the latest and greenest steel manufacturing technologies at its plants in Davao and Cebu.

“Approximately 80 percent of their energy requirements come from geothermal power,” the company said.

The steel manufacturer has also invested in automated furnaces that reduce emissions and ensure optimum burning, saving fuel by up to 30 percent compared to other furnaces.

SteelAsia is on a mission to build a full-fledged steel industry that will replace imports, generate jobs, and create new business opportunities upstream and downstream all over the country.

In September last year, the Board of Investments (BOI) endorsed a 500,000 metric ton (MT) steel project of SteelAsia Lemery Works Inc. in Lemery, Batangas for green lane processing.

The BOI noted that SteelAsia’s project has an import-substitution strategy targeting the large and fast-growing domestic market for the sale of the mills’ output.

“The presence of local manufacturers aims to lower the cost of construction, shorten construction periods, and further spur growth in domestic construction. It will also give rise to ancillary industries, such as structural steel services including design, engineering, and built-up steel structures,” the BOI said.

It explained that due to the lack of steel manufacturing players in the country, the Philippines ranked 20th among the top importers of steel globally. In 2022 alone, the Philippines imported about $5.23 billion worth of steel, $2.18 billion of which was imported from China.

“Local steel manufacturing is deemed insufficient to address the growing demand for the product, especially with the increasing consumption of sections from both infrastructure projects and private developments,” the BOI said.

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