FOR SUSTAINABILITY. (From left) Manila Electric Company executive vice president and chief operating officer Ronnie Aperocho, chairman and chief executive officer Manuel Pangilinan, and senior vice president and chief finance officer Betty Siy-Yap during the company's financial and operating results briefing at Meralco's headquarters in Pasig City on Nov. 6, 2023. Meralco announced on Feb. 25, 2024 that the company is spending PHP100 billion for its sustainability projects throughout 2030. (PNA file photo by Kris M. Crismundo)
MANILA – The country’s largest distribution utility (DU) Manila Electric Company (Meralco) is investing PHP100 billion until 2030 for its projects that will ensure energy security while addressing the challenges posed by climate change.
"With sustainability deeply embedded in Meralco's operations and long-term plans, we are proud to commit over PHP100 billion in capital expenditures (capex) 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 Aperocho said in a statement over the weekend.
The PHP100 billion capex will be allocated to projects involving enhancing grid reliability, reducing system loss, transitioning to natural ester oil for distribution transformers, implementing energy efficiency solutions, and expanding electric vehicle (EV) fleets and infrastructure, which are part of the DUs long-term sustainability strategy (LTSS), according to Meralco.
Through the LTSS, Meralco is eyeing to cut total carbon emissions by 20 percent by 2030.
Its renewable energy (RE) unit MGen Renewable Energy Inc. (MGreen) also aims to accelerate RE projects, particularly 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,” Meralco first vice president and chief sustainability officer Raymond Ravelo added.
Meralco’s solar power business unit MSpectrum Inc. is also targeting to hasten the adoption of solar energy technologies in businesses and homes while rolling out social development and amelioration programs through One Meralco Foundation’s electrification initiatives for underserved households, rural health centers, water access projects, and livelihood programs.
Meralco chairman and chief executive officer Manuel Pangilinan noted that these initiatives as well as next-generation technologies like nuclear energy and battery energy systems will help accelerate the country’s energy transition goals and 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. (PNA)
