Meralco’s MPower supplies AGI with RE
The deal is part of AGI’s continuing drive for more sustainable business operations and to also support Meralco’s target to be entirely coal-free by 2050
Daily TribuneThe deal is part of AGI’s continuing drive for more sustainable business operations and to also support Meralco’s target to be entirely coal-free by 2050
Retail energy supplier MPower, an affiliate of the Manila Electric Co., will be supplying 100 megawatts, or MW, of renewable energy to the Alliance Global Group Inc. comprised of its companies Megaworld and Travellers International Hotels, which operates the Newport World Resorts.
Under a recently signed retail power contract, Meralco will power up AGI’s hotels, resorts, and real estate projects with renewable energy.
AGI chief executive officer Kevin Andrew Tan said on Monday that the partnership will help the company hit its target of sourcing 100 percent of its power requirements from renewable energy by 2025.
Lessened emissions from operations
“Power consumption accounts for about 95 percent of AGI’s carbon emissions from our day-to-day operations. Sourcing 95 percent of our energy requirement from renewable sources will significantly lessen our emissions from our operations,” Tan said.
For Redel M. Domingo, first vice president and head of MPower, the tie-up is part of the company’s continuous drive for more sustainable business operations and to also support Meralco’s target to be entirely coal-free by 2050.
Long-term sustainability strategy
To recall, Meralco set a P100-billion capital investment to fund programs under its long-term sustainability strategy, or LTSS, until the end of the decade, or by 2030.
The company said over the weekend that the significant capital injection to 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.