In line with its long-term sustainability strategy, the Manila Electric Co. (MERALCO) will be investing approximately Php 18 billion to continue its shift toward a just, affordable, and orderly transition to clean energy and advance its clean power portfolio.
The investment, through the power generation arm, MERALCO PowerGen Corporation (MGEN), will cover two gigawatts worth of gross solar and wind capacity targeted to be accomplished by 2030, with the help of its partners.
Through MGen’s RE unit MGen Renewable Energy, Inc. (MGreen), MGEN aims to increase its attributable RE capacity to 1,500 MW.
MGreen looks to prioritize larger green projects and battery energy storage systems.
By 2030, MERALCO intends to decrease its direct coal emissions by 20%, in line with its mission to be “coal-free” before 2050.