Manila Electric Company’s (MERALCO) local retail electricity supplier, MPower, has procured the deal to contribute 100 megawatts (MW) of renewable energy (RE) capacity to Alliance Global Group, Inc. (AGI) through companies Newport World Resorts operator, Travellers International Hotels, and Megaworld.
“AGI has commendable efforts in procuring up to 95% of its power requirements from renewables, making it a forerunner in the adoption of cleaner energy sources. MERALCO is glad to partner with institutions that champion stewardship of the future generations of Filipinos,” said MERALCO Chairman and Chief Executive Officer Manuel V. Pangilinan.
With the signing of retail supply agreements, AGI’s businesses could use RE supplied by MERALCO for the operations of the developer’s hotels, resorts, and real estate projects.
Furthermore, this collaboration added another step to the goal of AGI to seek out 100% of its energy requirements from RE by 2025.
AGI chief executive officer Kevin Andrew L. Tan said that 95% of the developer’s carbon emissions came from their power consumption. Securing the energy requirement from cleaner sources would lessen the company’s carbon footprint.
“This partnership between MPower is a significant move towards AGI’s goal of achieving carbon neutrality as it signals our full transition to tapping renewable energy sources for our businesses,” said Tan.
In addition to supporting MERALCO’s goal of being completely coal-free by 2050, MPower continued to assist its clients’ quest for more environmentally friendly corporate practices.
