MANILA -- Power distributor Meralco on Sunday said it has contracted 1,880 megawatts (MW) of renewable energy capacity from various suppliers in compliance with the government's Renewable Portfolio Standards (RPS) policy.

Meralco said this is already above their original target of 1,500 MW of renewable energy.

The power supplier said it hopes renewable energy will account for 22 percent of its supply portfolio by 2030, allowing it to reduce its total carbon emissions by 15 percent based on its projections.

Under the RPS, electricity suppliers must source a portion of their requirements from renewable energy, in support of the government’s push to increase the share of renewable energy in the energy mix to 35 percent by 2030 and 50 percent by 2040.

Currently, the RPS requirement is set at +2.52 percent per annum.

Meralco First Vice President and Chief Sustainability Officer Raymond B. Ravelo said they will continue to adopt clean technology and deep decarbonization efforts as they hope to be coal-free by 2050.

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