Century Pacific Food plans to boost renewable energy investment
CENTURY Pacific Food, Inc. (CNPF) is investing further in renewable energy initiatives, the listed food and beverage company said on Tuesday.
In a statement, CNPF said it plans to increase the capacity of its solar facility in General Santos to 8.6 megawatts (MW), a 65% boost from the previous 5.2 MW, with a total investment of P380 million since 2021.
“In addition to being an environmentally forward choice for CNPF, investing in solar unlocks value for the company and enhances our operational resilience,” CNPF President and Chief Executive Officer Teodoro Alexander T. Po said.
The solar facility has generated more than 15 million kilowatt hours since its commissioning in 2021, the company said.
The company is also constructing a biomass broiler as an alternate energy source to power its coconut facility.
“The new boiler will utilize coconut shells as biomass fuel, converting by-products into energy and eliminating coal usage in the process,” it said.
“On a broader scale, the company anticipates a substantial 36% reduction in overall coal consumption across its factory,” it added.
Coconut shells are by-products of the company’s processing of coconut meat products and derivatives.
CNPF Vice-President for Coconut Original Equipment Manufacturer Noel M. Tempongko said that the company will focus on decreasing its environmental impact amid increasing demand for coconut products in local and international markets.
“The expansion of our biomass boilers, utilizing coconut shells from our operations, also serves as an eco-friendly substitute for coal, contributing to substantial reductions in carbon emissions,” Mr. Tempongko added.
Another biomass broiler would be constructed during the second quarter of the year, the company said.
“Our company’s pursuit of growth runs alongside our desire for longevity. This necessitates a commitment to responsible business practices and creating long-lasting, positive impact on both our bottom line and the planet,” Mr. Po added.
Century Pacific’s shares fell by 1.58% or 0.55 centavos, to close at P34.25 per share on Tuesday. — Adrian H. Halili