Meralco retail electricity unit MPower has secured a contract to supply 100 megawatts of renewable energy to Travelers International Hotels, a unit of the Alliance Global Group Inc. (AGI) companies that operates Megaworld and Newport World Resorts.
The contracts allow the property developer’s hotels, resorts, and real estate projects to use renewable energy for their operations.
“This partnership with MPower is a significant move towards AGI’s goal of achieving carbon neutrality as it signals our transition to renewable energy sources for our businesses. 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 emissions from our operations,” said Kevin Andrew Tan, AGI chief executive officer.
Tan said the partnership brings AGI closer to full 100 percent renewable energy by 2025.
Also, Meralco PowerGen Corp. and Aboitiz-led Therma NatGas Power Inc. plan investing in Chromite Gas Holdings (CGHI).
MGen told the Philippine Stock Exchange it is acquiring 60 percent of CGHI while TNGP will acquire the other 40 percent.
CGHI plans investing in power plants owned by San Miguel Global Power Holdings Corp. (SMGP) that includes the 1,278 MW Ilijan power plant and a new 1,320 MW combined-cycle plant still under construction.
In tandem with SMGP, CHGI will also invest in the liquefied natural gas and regasification terminal operated by Linseed Field Corp.
