By Juzel L. Danganan
MANILA, July 21 (PNA) — The Manila Electric Company (Meralco) will penetrate the renewable energy industry soon, through a new subsidiary, which will seek renewable energy (RE) prospects and its distribution to the power grid.
“Meralco will create a renewable unit separate from the legacy power plants, to take a look at the prospects of renewables and including distributed power grid,” said Meralco Chairman Manny Pangilinan on Monday at the sidelines of the Meralco Power Tech Launch held at the Meralco Multi-purpose Hall in Pasig City.
He noted the subsidiary will also look into renewable storages, which are better-known as RE batteries.
Pangilinan said the firm might seek partners for the batteries.
He added the subsidiary will be formed soon, as the firm has signed in a new Chief Operating Officer (COO).
Pangilinan further stressed the subsidiary will form as a separate unit from Meralco PowerGen Corp. (MGen), which currently has two ongoing coal-fired projects, namely: the San Buenaventura Power Limited (SBPL) in Quezon and Redondo Peninsula Energy (RPE) Inc. in Subic.
Earlier, the Meralco chairman said the company is also studying its venture into natural gas power production.
The firm has talked with Japanese-firm Osaka Gas for a potential partnership on the natural-gas fired project.
Meralco started as a distribution utility, then grew as the country’s largest, before entering power generation. (PNA)