MERALCO commits Php 100B investment for sustainability strategy

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The Manila Electric Company (MERALCO) has allocated a substantial capital investment of over Php 100 billion to finance its long-term sustainability strategy (LTSS) programs to solidify its commitment to aid in energy security and contribute to the country’s development.

“We are proud to commit over Php 100 billion in capital expenditures to initiatives that not only enhance our infrastructure but also align with the government’s vision for a sustainable future,” said MERALCO Executive Vice President and Chief Operating Officer Ronnie L. Aperocho.

The capital investment will be directed towards critical projects aimed at strengthening MERALCO’s distribution network. These initiatives are designed not only to ensure sustainability but also to enhance resilience in the face of escalating challenges posed by climate change. Key projects include grid reliability enhancement, reduction of system loss, adoption of natural ester oil for distribution transformers, implementation of energy efficiency solutions, and expansion of electric vehicle (EV) fleets and infrastructure.

Coinciding with its commitment to a clean energy transition, MERALCO is intensifying its renewable energy (RE) initiatives through MGen Renewable Energy, Inc. (MGreen), a wholly-owned subsidiary of MERALCO PowerGen Corporation, to facilitate the development of RE projects, primarily sourced from solar and wind energy.

“Core to our long-term sustainability strategy are twin commitments to secure 1,500 megawatts (MW)  of renewable energy supply contracts and to develop 1,500 MW of attributable green energy generation capacity,” said MERALCO First Vice President and Chief Sustainability Officer Raymond B. Ravelo. 

He added, “This underscores our dedication to our low-carbon transition and to serving the country’s growing energy demand with clean power.”

Beyond fortifying its distribution network and enhancing its RE portfolio, MERALCO has set aside funds to promote solar energy adoption for commercial establishments and private residences through MSpectrum, and to promote social development and amelioration programs through One Meralco Foundation’s solar electrification initiatives targeted towards underserved households, rural health centers, water access projects, and livelihood programs.

These investments play a pivotal role in driving MERALCO’s LTSS, which aims to have a 20% reduction in total emissions by 2030, covering both direct emissions from onsite activities and indirect emissions from purchased electricity, supply chain operations, and services provided. 

Looking towards the future, MERALCO Chairman and Chief Executive Officer, Manuel V. Pangilinan, affirmed the power distributor’s commitment to accelerating its transition to green energy and emphasized next-generation technologies such as nuclear energy and battery energy systems. According to Panglinan, the ultimate goal is to achieve deep decarbonization with the aspiration 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 (UN SDGs),” said Pangilinan.