Meralco to build 1,000MW renewable energy portfolio
Power utility giant Manila Electric Co. (Meralco) is scaling up investments in the renewable energy space as part of efforts to help build a greener future.
Newly-installed Meralco president Ray Espinosa announced plans to build up 1,000 megawatts (MW) of renewable energy projects in the next five to seven years.
“Meralco is committed to developing large-scale renewable energy projects that can deliver competitive electricity for our customers, without any requirement for subsidy or support, while keeping environmental stewardship and sustainability as top priorities in our business,” Espinosa said.
MGEN Renewable Energy Inc. (MGreen), a wholly-owned subsidiary of Meralco PowerGen Corp. (MGen), is eyeing investments in solar and wind projects.