Independent power firm Constellation Energy Corp. (CEC) has diversified its portfolio by venturing into the real-estate business with a P450-million mixed-use 10-storey twin-tower condominium in Mindanao.
CEC Chairman Jose Leviste said that the company has started to spread its business interests from renewable power to green architecture by building Mindanao’s first eco-friendly building in Cagayan de Oro City.
“Constellation Energy’s venture into green architecture is but a natural consequence of our company’s full thrust in exploring multi-technology RE [renewable energy]projects,” he said.
The firm’s first real-estate project is called Primavera Residences, which is a P450-million mixed-use 10-storey twin-tower condominium with 160 units. The project will also tap solar energy with the installation of photovoltaic solar panels.
Constellation Energy earlier announced that it is going to take part in the country’s booming tourism industry by developing lakeshore areas near its 20-megawatt geothermal power project in Oriental Mindoro into a resort.
“Green energy is the way to go. Power, tourism and health rejuvenation can mix. This is possible with renewable power energy,” Leviste said.
He said that besides providing power needed by a booming island, the hot spring and wellness center is expected to become a new tourist destination in Mindoro.
A subsidiary of EnerAsia Renewables Corp. of Canada, CEC has various investors and partners from Canada, Singapore, Italy, Australia and Hong Kong.
The company has also secured several RE service contracts with the Department of Energy for several geothermal, wind and hydroelectric projects all over the country.