Conglomerate San Miguel Corp. firmed up its plan to develop 1,200-megawatt renewable energy projects by 2024, its top executive said.
San Miguel president Ramon Ang said the target was to complete 1,200 MW of renewable energy projects by 2024. “It’s comprised of solar, wind and pumped-storage hydro,” he said.
Ang did not provide additional details because of the intense competition in the energy sector.
“We have started around at least 70 percent of this RE. We have already bought some of the equipment…Some still need ECC [environmental compliance certificate] but they are already being processed,” Ang said.
He said the company was looking at wind projects in potential sites such as Mariveles, Bataan and Badoc, Ilocos Norte.
Ang last year bared plans to put up 1,000 MW of renewable energy projects in the next 10 years which include hydro, wind, battery storage, and tidal power projects.
“SMC is going to invest heavily on renewable energy,” Ang said earlier.
“We have a responsibility as a major power producer to do our share in pushing for a sustainable clean energy economy, but it has to be done in the most efficient way possible for the consumers,” he said.
“With critical mass and better technology, I believe we should be able to strike the perfect balance between renewable and non-renewable sources in terms of the country’s energy mix,” he said.
He said San Miguel has a team that studies and develops solutions across the clean energy sector.
“We are challenging ourselves to be able to operate in the most environmentally-responsible manner while taking into consideration energy security and affordability to the consumers. Initiatives to achieve this objective are underway and I’m proud to say, we are making good headway,” he said.
San Miguel owns 60 percent of the 218-MW Angat hydropower plant. It is also the independent power producer administrator of the Ilijan natural gas plant in Batangas and the San Roque hydro station in Pangasinan province.