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Manila Bulletin devider Business devider AGI secures renewable energy supply from MPower

AGI secures renewable energy supply from MPower

Published Mar 4, 2024 07:19 am

Local retail electricity provider MPower will now supply renewable energy to the hotels, resorts, and real estate businesses of Alliance Global Group, Inc. (AGI).

The unit of Manila Electric Co. (Meralco) said it has finalized an agreement to provide a combined total of 100 megawatts (MW) of renewable energy to Travellers International Hotels, the operator of Megaworld and Newport World Resorts.

Kevin Andrew L. Tan, AGI chief executive officer, said the partnership with MPower represents a milestone in the group's goal for carbon neutrality, marking a complete transition to leveraging renewable energy sources for their operations.

Tan said that power consumption accounts for around 95 percent of AGI's carbon emissions resulting from day-to-day operations.

“Sourcing 95 percent of our energy requirement from renewable sources will significantly lessen our emissions from our operations,”Tan said.

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

"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," Redel M. Domingo, MPower first vice president and head 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 has commendable efforts in procuring up to 95% 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 Officer Manuel V. Pangilinan said.

Meralco’s retail energy supplier pursues the coal-free agenda by 2050 through partnering with business operations.

Related Tags

Megaworld Corp. Newport World Resorts Andrew Tan Manny Pangilinan Manila Electric Co. (Meralco)
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