Meralco earmarks P100B for sustainability commitments

Meralco is ramping up its renewable energy buildout

The Manila Electric Company has earmarked a significant capital investment through 2030 to fund programs under its long-term sustainability strategy as part of its commitment to help achieve energy security and contribute to nation building.

“With sustainability deeply embedded in Meralco’s operations and long-term plans, we are proud to commit over P100 billion in capital expenditures to initiatives that not only enhance our infrastructure but also align with the government’s vision for a sustainable future,” Meralco executive vice president and chief operating officer Ronnie L. Aperocho said.

The substantial capital injection is pivotal in driving Meralco’s LTSS, which aims to reduce total emissions by 20 percent by 2030, encompassing both direct emissions from onsite activities and indirect emissions from purchased electricity, supply chain operations and services provided.

It will catalyze critical projects intended to fortify Meralco’s distribution network, making it not only sustainable but also smarter and more resilient in the face of the increasing challenges posed by climate change. Key initiatives include enhancing grid reliability, reducing system loss, transitioning to natural ester oil for distribution transformers, implementing energy efficiency solutions, and expanding electric vehicle fleets and infrastructure.

Aligned with its just, orderly, and affordable transition to clean energy, Meralco is ramping up its renewable energy buildout through MGen Renewable Energy Inc. or MGreen, a wholly-owned subsidiary of Meralco

PowerGen Corporation, to accelerate the development of solar and wind sources.

“Core to our long-term sustainability strategy are twin commitments to secure 1,500 megawatts of renewable energy supply contracts and to develop 1,500 MW of attributable green energy generation capacity. This underscores our dedication to our low-carbon transition and to serving the country’s growing energy demand with clean power,” emphasized Meralco first vice president and chief sustainability officer Raymond B. Ravelo.

In addition to fortifying its distribution network and bolstering its RE portfolio, Meralco has allocated funds to promote the adoption of solar energy solutions for businesses and homes through MSpectrum, and to champion social development and amelioration programs through One Meralco Foundation’s solar electrification initiatives targeting underserved households, rural health centers, water access projects and livelihood programs.

Looking ahead, Meralco chairman and chief executive officer Manuel V. Pangilinan affirmed the power distributor’s commitment to accelerate its transition to green energy by leveraging next-generation technologies such as nuclear energy and battery energy systems, charting a course towards deep decarbonization with the goal to become coal-free by 2050.

“As we pursue our decarbonization strategies, we envision a thriving society with access to education, clean water, quality healthcare, dignified livelihoods, and disaster preparedness — all in alignment with the United Nations’ Sustainable Development Goals,” Pangilinan said.

Established in 2019, Meralco’s sustainability agenda, “Powering the Good Life,” is deeply rooted in the UN SDGs and supported by four pillars: Power, Planet, People and Prosperity.