Meralco, DM Wenceslao sign supply deal

By Ed Paolo Salting – September 28, 2024
from The Manila Times

MANILA Electric Co. (Meralco) said on Friday that its local retail electricity supplier subsidiary, MPower, had signed an agreement to provide renewable energy to D.M. Wenceslao and Associates Inc.’s (DMWAI) properties in Aseana City in Parañaque, Metro Manila under the latter’s wholly owned subsidiary, Aseana Holdings Inc.

“We are grateful to have MPower as our trusted partner. Their commitment and expertise will ensure that our office buildings and mixed-use developments will benefit from clean and renewable energy,” DMWAI President and CEO Delfin Angelo Wenceslao said.

MPower First Vice President and Head Redel Domingo, meanwhile, said the firm was “proud to be with DMWAI in enabling a greener future for everyone. We remain committed to expanding our renewable energy sources and pushing for sustainable economic growth in the Philippines.”

DMWAI said the power supply agreement with MPower supported its commitment to incorporating sustainable practices in its real estate developments, while MPower noted that the partnership with DMWAI would hopefully set a precedent for similar collaborations in the real estate and power industries.

Their partnership began in 2019 and is expected to continue to strengthen as DMWAI’s properties meet the 500-kilowatt threshold under the Retail Competition and Open Access program, which allows large load consumers to select their electricity supplier according to their unique preferences.

Meralco shares on Friday slipped by P0.20, or 0.04 percent, to close at P454.80 apiece while DMWAI stocks rose by P0.10, or 1.9 percent, to P5.35.