share this article!

San Miguel’s Ramon Ang attends the company’s annual general meeting in Manila, Philippines, on… The 7th of June, 2011.
Bloomberg/Edwin Tuyay
San Miguel, which is owned by billionaire Ramon Ang, is increasing its investments in solar farms and other renewable energy sources while phasing out coal projects from its expansion plans in order to assist the Philippines lower its carbon footprint.
In a Facebook post on Saturday, San Miguel president Ang remarked, “Our sustainable path has attained a crucial milestone.” “We just made the bold decision to eliminate new coal projects from our expansion ambitions. Instead, we’re increasing our renewable energy capacity. This has not been easy because our country still relies heavily on traditional electricity sources that are both reliable and economical.”
According to government data, the Philippines is significantly reliant on fossil fuels, with coal-fired power plants producing 58.2 gigawatt hours of electricity in 2020. Last year, this accounted for more over half of total electricity generation. In comparison, renewable energy sources provided only 21% of the country’s electricity.
San Miguel, which has nearly a fifth of the country’s installed generating capacity, announced in April that it would invest $1 billion to create 31 new battery energy storage facilities across the Philippines, each with a rated capacity of 1,000 megawatts.
“We have reached a point where we are sure that, via smart alliances and the application of new technologies, we can transition to a low-carbon future without jeopardizing our economy’s expanding power needs,” said Ang, 67.
ADDITIONAL INFORMATION FOR YOU
San Miguel has grown from a brewer and food producer to one of the country’s most diverse companies, with interests in real estate, oil refining, power production, and infrastructure, thanks to Ang, who bought most of his shares from late entrepreneur Eduardo Cojuangco Jr. in 2012.
His most ambitious proposal is the development of a huge international airport on a 2,500-hectare (25 million square meter) land in Bulacan province, some 40 kilometers north of the Philippine capital Manila, at a cost of 740 billion pesos ($14.8 billion). When completed, the airport will be able to handle up to 100 million people per year, roughly three times the capacity of the country’s primary gateway, Ninoy Aquino International Airport.
When the World’s Billionaires List was published in April, Ang was rated as the Philippines’ 12th richest person, with a net worth of $2.2 billion./nRead More

share this article!