Meralco To Invest PHP100 Billion In Energy Security And Climate Change Solutions

Manila Electric Company (Meralco) has unveiled plans to invest up to PHP100 billion by 2030 in projects aimed at ensuring energy security and combating climate change.

The CapEx will be dedicated to projects integral to Meralco's long-term sustainability strategy (LTSS), which includes a commitment to reduce total carbon emissions by 20 percent by 2030. I Photo: Meralco Facebook

The Php100 billion capital expenditure (CapEx) will be directed towards various initiatives, including 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.

These projects are integral to Meralco's long-term sustainability strategy (LTSS), which includes a commitment to reduce total carbon emissions by 20 percent by 2030.

Meralco's renewable energy (RE) unit, MGen Renewable Energy Inc. (MGreen), will focus on accelerating RE projects, particularly solar and wind sources.

Additionally, Meralco's solar power business unit, MSpectrum Inc., aims to promote the adoption of solar energy technologies in businesses and homes while rolling out social development and electrification initiatives for underserved households, rural health centers, water access projects, and livelihood programs through the One Meralco Foundation.

Manuel Pangilinan, Chairman and Chief Executive Officer of Meralco, highlighted 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.

He said, “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.”

For his part, Meralco Executive Vice President and Chief Operating Officer Ronnie Aperocho pointed out, “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.”

The company’s First Vice President and Chief Sustainability Officer, Raymond Ravelo, added, “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.”

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