Meralco coal-free by 2050
‘We recognize our impact on the planet, and we will do more as part of our earnest commitment to sustainability.’
Daily Tribune‘We recognize our impact on the planet, and we will do more as part of our earnest commitment to sustainability.’
The Manila Electric Company, or Meralco, the country's largest power distribution company, has set out its long-term strategy to promote a just and affordable clean energy transition.
The company intends to be coal-free by 2050. But before that, it will first push to cut it direct emissions by more than 20 percent by the end of the decade, or by 2030.
According to Meralco, the targets cover its projected 2030 baseline Scope 1 emissions it directly generated from thermal power generation and the use of fuel for vehicles and other equipment.
"We recognize our impact on the planet, and we will do more as part of our earnest commitment to sustainability," Meralco first vice president and chief sustainability officer Raymond B. Ravelo said.
Sustainability agenda
"As we chart the path towards a brighter and greener energy future, Meralco will continue to evolve and elevate its sustainability agenda to continue powering the good life for all," he added.
Meralco has been heavily investing in the development of renewable energy or RE to serve the country's growing energy demand for greener power.
This includes the distribution utility's program to source an increasing portion of its supply portfolio from RE. Meralco has so far contracted 1,880 megawatts or MW of RE capacity from various suppliers, already exceeding its initial target of 1,500 MW.
As such, Meralco said RE is expected to account for 22 percent of the distribution utility's supply portfolio by 2030, and 18 percent of that of Meralco's retail electricity supplier, MPower, by 2025.
Decarbonization push
To further strengthen its decarbonization efforts, Meralco, through its power generation arm, Meralco PowerGen Corp. or MGen, is accelerating its RE buildout to develop greener generating capacities to power the country with sustainable energy.
Earlier this year, MGen committed to invest at least P18 billion for its RE buildout which will cover capacities from clean technologies such as solar and wind which the company aims to build through 2030.
"In the coming years, Meralco will accelerate its shift to green energy through the adoption of next-generation clean technologies. Ultimately, we will drive deep decarbonization to advance long-term energy security with earth-friendly power," Ravelo said.
