Meralco Goes Beyond its 1,500 MW Renewable Energy Capacity Target

Meralco has acquired 1,880 megawatts (MW) of contracted renewable energy source capacity, soaring beyond its initial target of 1,500 MW. The electric company’s long-term plan is to steadily increase its renewable energy suppliers, investing in renewable energy to ensure the fast-growing power demand in the Philippines is met sustainably.

The initiative was spearheaded through direct investments in greenfield renewable energy facilities, and forging agreements with renewable energy producers and retail electricity suppliers for its power supply.

As a trailblazer in the use of pure renewable energy to meet its mid-merit requirements, Meralco is experienced in providing flexibility amid grid demand fluctuations. Its goal is for 20% of its power mix to come from renewable sources by 2030. So far, its retail market segment is already set to reach 18% renewable energy sourcing by 2026.

Meralco’s efforts are in compliance with the government’s Renewable Portfolio Standards (RPS), which requires power utilities to maintain a certain percentage of their energy mix from green sources.

Meralco’s sustainability agenda is set to put its commitment to environmental preservation and greener future into action. P18 billion has already been invested in renewable energy ventures, particularly the country’s abundant solar and wind power sources.

Source: Meralco Surpasses 1,500 MW Renewable Energy Capacity Milestone