The Manila Electric Company, or Meralco, has earmarked P100 billion as capital investment to fund programs under its long-term sustainability strategy, or LTSS, stretching to 2030.
The company said over the weekend that the significant injection in its capital expenditures will strengthen its distribution network and ensure sustainable project developments.
The key initiatives include enhancing grid reliability, reducing system loss, transitioning to natural ester oil for distribution transformers, implementing energy efficiency solutions, and expanding electric vehicles, or EVs, fleets and infrastructure.
“With sustainability deeply embedded in Meralco’s operations and long-term plans, we are proud to commit over P100 billion in capital expenditures to initiatives that not only enhance our infrastructure but also align with the government’s vision for a sustainable future,” Meralco executive vice president and chief operating officer Ronnie L. Aperocho said.
Meralco said it wants to increase its renewable energy, or RE, utilization through MGen Renewable Energy Inc., a wholly-owned subsidiary of Meralco PowerGen Corp.
Meralco first vice president and chief sustainability officer Raymond B. Ravelo said the company’s long-term sustainability strategy also includes securing 1,500 MW of renewable energy supply contracts and developing 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,” he said.
Part of the allocated budget will also go to the adoption of solar energy solutions for homes and businesses through MSpectrum.
Meralco aims to reduce total emissions by 20 percent by 2030. This includes direct emissions from onsite activities and indirect emissions from purchased electricity, supply chain operations, and services provided.
