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Thursday, April 25, 2024

AGI taps green power supply from MPower

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MPower, the local retail electricity supplier of Manila Electric Co. (Meralco), said Monday it will supply 100 megawatts (MW) of renewable energy to Alliance Global Group Inc. (AGI) through property firm Megaworld Corp. and Newport World Resorts operator Travellers International Hotels.

MPower signed the retail supply contracts with AGI’s businesses led by Andrew Tan, allowing the property developer’s hotels, resorts and real estate projects to use renewable energy for their operations.

“AGI has commendable efforts in procuring up to 95 percent of its power requirements from renewables, making it a forerunner in the adoption of cleaner energy sources. Meralco is glad to partner with institutions that champion stewardship of the future generations of Filipinos,” Meralco chairman and chief executive Manuel Pangilinan said.

MPower continues to contribute to its customers’ drive for more sustainable business operations and to support Meralco’s target to be entirely coal-free by 2050.

“AGI now stands among our valued partners benefitting from clean energy. We look forward to fostering a mutually empowering partnership that also paves the way for boundless opportunities for Filipinos,” said Meralco first vice president and MPower head Redel Domingo.

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The partnership also brings AGI closer to its target to source 100 percent of its power requirements from renewable energy by 2025.

“This partnership between MPower is a significant move towards AGI’s goal of achieving carbon neutrality as it signals our full transition to tapping renewable energy sources for our businesses,”  AGI chief executive Kevin Andrew Tan said.

“Power consumption accounts for about 95 percent of AGI’s carbon emissions from our day-to-day operations. Sourcing 95 percent of our energy requirement from renewable sources will significantly lessen our emissions from our operations,” he said.

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