Megaworld, one of the Philippines’ leading property developers, announced a significant achievement in its commitment to sustainability: the full transition of all its company-owned offices, hotels, lifestyle malls, and residential properties to 100% renewable energy sources. This milestone underscores Megaworld’s dedication to environmental stewardship and sets a new benchmark for sustainable development in the real estate industry.
The comprehensive shift to renewable energy covers 54 commercial properties under Megaworld and its real estate investment trust, MREIT, Inc. This extensive portfolio includes 26 office towers, 15 lifestyle malls and retail establishments, and eight hotels strategically located in prominent townships such as Uptown Bonifacio, Eastwood City, McKinley Hill, McKinley West, Newport City, Southwoods City, Twin Lakes, Boracay Newcoast, and Iloilo Business Park. Additionally, several residential properties in Uptown Bonifacio, Forbes Town in Taguig, Westside City in Parañaque City, and Makati City have also fully embraced renewable energy.
These properties are classified as “Contestable Customers” under the Retail Competition and Open Access (RCOA) framework, meaning they consume 500 kW or more of electricity and have the choice to procure electricity directly from licensed Retail Energy Suppliers (RES) offering renewable energy solutions.
Megaworld initiated this ambitious transition in March 2024 through a landmark partnership with MPower, a subsidiary of Meralco. The company has also expanded its network of renewable energy providers by tapping ACEN, further solidifying its access to clean and sustainable power.
“Reaching 100% renewable energy for all our properties is a significant leap forward in our sustainability journey,” stated Jose Arnulfo Batac, Head of Sustainability at Megaworld. “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.”
This initiative is a core component of Megaworld’s broader sustainability program, MEGreen, launched in 2023. MEGreen consolidates all of the company’s environmental efforts under a unified platform, aligning them with the United Nations Sustainable Development Goals (UN SDGs).
Looking ahead, Megaworld plans to extend its renewable energy transition to non-contestable properties, including those under its subsidiaries and joint ventures, by 2030, reinforcing its vision for a greener and more sustainable future across its entire portfolio.
