MPOWER FIRST VICE-PRESIDENT Redel M. Domingo (left) and Allegro Microsystems Philippines, Inc. Senior Director-Controller Ronald Dela Rosa sign a contract for a fully renewable electricity supply. — MANILA ELECTRIC CO.

SEMICONDUCTOR manufacturer Allegro Microsystems Philippines, Inc. has renewed its power supply agreement with MPower, the retail electricity supply unit of Manila Electric Co. (Meralco), to support its shift to 100% renewable energy.

Under the new agreement, Allegro will source its entire electricity requirement from renewable energy through MPower.

“MPower has enabled us to achieve our five-year sustainability target early, accelerating our timeline. This marks a major milestone in our advocacy and stand to lead a more responsible semiconductor manufacturing,” Allegro Senior Director-Controller Ronald Dela Rosa said in a statement on Tuesday.

The partnership, which began over a decade ago, is expected to help Allegro significantly reduce its carbon emissions, MPower said.

“MPower’s provision of 100% renewable energy has enabled Allegro to realize its 2030 sustainability target at its manufacturing sites ahead of schedule. This success highlights the strength of our partnership and our shared commitment to clean energy transformation,” First Vice-President and Head of MPower Redel M. Domingo said.

Under the Competitive Retail Electricity Market (CREM), qualified end-users with an average monthly demand of at least 500 kilowatts are allowed to select their electricity supplier based on specific operational needs.

MPower supplies contestable customers, including large corporations operating within Meralco’s franchise area.

The company holds more than a 25% share of the CREM market within the Meralco franchise.

Meralco’s controlling shareholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera