Potential offtaker

Manila Electric Company


Estimated electricity consumption


Countries of production presence


Manila Electric Company (Meralco) is the largest electric distribution utility company in the Philippines, serving over six million customers in Metro Manila and nearby provinces. Founded in 1903, Meralco has been at the forefront of the country's electrification efforts, providing reliable and affordable electricity to households, businesses, and industries.

As a power generation company, Meralco plays a critical role in the Philippines' energy landscape, which is undergoing a major transformation towards decarbonisation and renewable energy. The country is highly dependent on fossil fuels, particularly coal, for its electricity generation, which accounts for around 40% of its greenhouse gas emissions. However, the government and the private sector are increasingly recognizing the need to shift towards cleaner and more sustainable sources of energy to mitigate climate change and promote energy security.

Meralco has been actively pursuing this transition through various initiatives and partnerships. In 2019, the company announced its commitment to reduce its carbon footprint by 50% by 2030, in line with the Paris Agreement's goal of limiting global warming to below 2 degrees Celsius. To achieve this target, Meralco is exploring a range of decarbonisation strategies, such as increasing the share of renewable energy in its portfolio, improving energy efficiency, and investing in new technologies.

One of Meralco's key strategies for decarbonisation is to expand its corporate energy services, which enable large commercial and industrial customers to source their electricity from renewable sources through corporate power purchase agreements (PPAs). Corporate PPAs allow companies to secure long-term, fixed-price contracts for renewable energy, which can provide cost savings, risk management, and sustainability benefits. Meralco has already signed several corporate PPAs with major corporations in the Philippines, such as Coca-Cola, Nestle, and Robinsons Land, which have committed to sourcing a significant portion of their electricity from solar and wind power.

Meralco is also investing in renewable energy projects, both through its subsidiary, Meralco PowerGen, and through partnerships with other companies. In 2019, Meralco PowerGen announced its plan to build a 1,200-megawatt (MW) coal-fired power plant in Atimonan, Quezon, but the project was later put on hold due to concerns about its environmental and social impacts. Instead, Meralco PowerGen is now focusing on developing renewable energy projects, such as solar, wind, and hydro power, which can provide clean and reliable electricity to its customers.

In addition to its decarbonisation efforts, Meralco is also committed to promoting energy efficiency and conservation among its customers. The company offers various programs and services to help customers reduce their energy consumption and costs, such as energy audits, retrofitting, and demand-side management. Meralco also encourages its customers to adopt renewable energy and energy-efficient technologies through education and awareness campaigns.

Overall, Meralco is a leading player in the Philippines' power generation sector, which is undergoing a major transformation towards decarbonisation and renewable energy. The company's commitment to reducing its carbon footprint, expanding its corporate energy services, and investing in renewable energy projects demonstrates its leadership and vision in promoting a sustainable and resilient energy future for the Philippines. As the country continues to face the challenges of climate change and energy security, Meralco's role in providing reliable and affordable electricity will be more important than ever.

✓ Declared Net Zero commitment