MPower expanding renewable energy share in supply portfolio
MANILA -MPower, the local retail electricity supplier unit of Manila Electric Co (Meralco), will be adding more renewable energy (RE) sources in its supply portfolio as part of its sustainability thrust and its support to the government’s push for clean energy.
MPower is the sole offtaker of Nuevo Solar Energy Corp.’s (NSEC) 68-MW solar farm located in Currimao, Ilocos Norte, which commenced commercial operations last March. NSEC is a joint venture between MGen Renewable Energy Inc. and Vena Energy.
“This new partnership marks an important milestone in our commitment to continue diversifying our supply portfolio by taking in more renewable energy projects, not only to meet the demand of our customers for sustainable energy, but also to support the national agenda to transition to clean energy sources,” senior vice president and head of MPower Roberto R. Almazora said.
As of end-March, MPower serves customers with a combined requirement of more than 1,000 MW, of which 180 MW are sourced from RE. MPower is set to increase the RE capacity to 800 MW in the next two years.
“As the consciousness toward sustainability grow, we expect demand for RE to similarly increase. By 2025, our target is for RE to account for at least 40 percent of our total supply mix,” Almazora added.
Since its inception in 2013, MPower has been committed to delivering stable and reliable energy as well as providing best-in-class energy solutions and to driving various initiatives in line with Meralco’s sustainability agenda.