Meralco investing over P100b in various projects until 2030
By Alena Mae S. Flores – February 25, 2024, 7:30 pm
from manilastandard.net
Power retailer Manila Electric Co. (Meralco) said over the weekend it earmarked more than P100 billion for capital investment through 2030 to fund programs under its long-term sustainability strategy (LTSS), to help achieve energy security and contribute to the nation’s development.
“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 Aperocho said.
Meralco said the investment would catalyze critical projects intended for its distribution network, making it not only sustainable but also smarter and more resilient amid the challenges posed by climate change.
These projects include enhancing grid reliability, reducing system loss, transitioning to natural ester oil for distribution transformers, implementing energy efficiency solutions and expanding electric vehicle (EV) fleets and infrastructure.
Meralco chairman and chief executive Manuel Pangilinan said the company was accelerating its transition to green energy by leveraging next-generation technologies such as nuclear energy and battery energy systems, charting a course towards deep decarbonization with the goal to become coal-free by 2050.
“As we pursue our decarbonization strategies, we envision a thriving society with access to education, clean water, quality healthcare, dignified livelihoods, and disaster preparedness—all in alignment with the United Nations’ Sustainable Development Goals (UN SDGs),” Pangilinan said.
