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Manila Bulletin devider Business devider Real estate firm secures retail power from Meralco subsidiary

Real estate firm secures retail power from Meralco subsidiary

Published Sep 27, 2024 05:26 am

At A Glance

  • MPower emphasized that its new partnership with DMWAI is expected to be setting "a precedent for similar collaborations in the industry" – given the fact that more and more businesses and industries, the real estate sector included, have been aggressively embedding sustainability into the chain of their project development and operational cycles. <br> 

Real estate firm DM Wenceslao Group (DMWAI) has secured power supply for its property development in Paranaque City from MPower, the local retail electricity supplier (RES) subsidiary of power utility giant Manila Electric Company.

According to Meralco, the power supply agreement (PSA) signed by the two firms prescribes the delivery of renewable energy-generated power to Aseana Holdings Inc, which is a wholly owned subsidiary of the D.M. Wenceslao group.

The parties-in-interest did not specify the purchased volume, as well as the agreed tariff and contract duration on the RES-procured capacity.

DMWAI President and CEO Delfin Angelo Wenceslao indicated that their company had chosen MPower primarily due to its solid track record on servicing customers that have been participating in the retail competition and open access (RCOA) regime of the restructured power industry.

“Their commitment and expertise ensure that our office buildings and mixed-use developments will benefit from clean and renewable energy," he stressed.

The RCOA policy covers the so-called ‘contestable customers’ in the power sector – or those segment of end-users within and above the 500-kilowatt (kW) threshold that can already exercise ‘power of choice’ when it comes to negotiating as well as contracting for their electricity needs from preferred power suppliers.

On DMWAI’s view, “tapping MPower for supply requirements aligns well with (its) company’s goal to source 100% of its properties’ power needs from renewable energy in support of global efforts to reduce carbon emissions and promote cleaner energy alternatives.”

The first partnership between MPower and the D.M. Wenceslao group had been cemented in 2019; and that has been growing through the years as the latter continues to source  clean energy to support the operations of its property developments.

MPower First Vice President and Head Redel Domingo echoed that their company has been taking great strides in “enabling a greener future for everyone,” and that is the same core service that they will be extending to the D.M. Wenceslao group.

“We remain committed to expanding our renewable energy sources and pushing for sustainable economic growth in the Philippines,” he stressed.

MPower emphasized that its new partnership with DMWAI is expected to be setting “a precedent for similar collaborations in the industry” – given the fact that more and more businesses and industries, the real estate sector included, have been aggressively embedding sustainability into the chain of their project development and operational cycles.

Related Tags

D.M. Wenceslao and Associates Inc. Power supply agreement MPower RES Aseana Holdings Inc. renewable energy capacity
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