Megaworld Corp. has completed its transition to 100 percent renewable energy for all company-owned offices, hotels, lifestyle malls, and residential properties, the company said Thursday in a disclosure to the stock exchange.
This includes 54 commercial properties under MREIT, Inc., the company’s real estate investment trust.
Among these are 26 office towers, 15 lifestyle malls and retail spaces, and eight hotels.
These properties are located in key Megaworld townships such as Uptown Bonifacio, Eastwood City, McKinley Hill, McKinley West, Newport City, Southwoods City, Twin Lakes, Boracay Newcoast, and Iloilo Business Park.
Several residential buildings in Uptown Bonifacio and Forbes Town in Taguig, as well as in Westside City in Parañaque and Makati City, have also switched to renewable power.
These sites fall under the category of “Contestable Customers,” which means they use 500 kilowatts or more of electricity.
Under the Retail Competition and Open Access (RCOA) policy, they are allowed to choose their electricity provider from retail energy suppliers offering renewable options.
Megaworld began this shift in March 2024 through a partnership with MPower, a Meralco subsidiary.
The company is also working with ACEN to provide renewable energy for its residential and office properties.
“Reaching 100 percent renewable energy for all our properties is a significant leap forward in our sustainability journey. This milestone underscores Megaworld’s long-term commitment to environmental stewardship, and we are fully committed to extending these efforts to all our developments as we work towards building townships of the future powered by fully sustainable energy sources,” said Jose Arnulfo Batac, head of sustainability at Megaworld.
The company also plans to transition non-contestable properties, including those managed by subsidiaries and joint ventures, to renewable energy by 2030.
In 2023, Megaworld launched a sustainability program called MEGreen.
This aims to bring all the company’s environmental projects under one platform aligned with the United Nations Sustainable Development Goals.
