Property developer Megaworld Corp. teamed up with Manila Electric Co. to ensure that local and international clients enjoy stable and reliable electricity supply.
Meralco and Megaworld formalized their partnership to develop a 1,694-square-meter property at McKinley Hill in Taguig City into a new power substation.
The property will be transformed into a new gas-Insulated switchgear substation housing three 83-megavolt ampere transformer banks with an ultimate capacity of 249 MVA.
Amid Megaworld’s continuous expansion program within the area, Meralco’s new substation means future tenants need not worry about power service.
“Meralco is privileged to have a great responsibility in how the Philippines’ economic growth can continue to thrive. We are one with Megaworld, in its goals to develop sustainable and progressive cities, which will complement the local community and national development,” said Meralco senior vice president and head of networks Ronnie Aperocho in a statement.
Meralco said the new substation would support the power demands of businesses, institutions and communities within McKinley Hill, McKinley West and nearby areas and help address the critical loading of the two existing transformer banks at the Malibay substation.
The new substation will also improve the system reliability, voltage regulation, power quality and distribution efficiency for key establishments in the area including McKinley Hill Village, McKinley West Village, Venice Grand Canal, McKinley West Campus, Viceroy Residences, Venice Luxury Residences and Enderun Colleges.
“This initiative will help a variety of sectors and communities prosper and recover from the impact of the pandemic. Together with Meralco, this forms part of our vision at Megaworld to uplift lives, impact society, and help shape the nation,” said Jennifer Romualdez, Megaworld senior vice president and head of operations management.
The 50-hectare McKinley Hill, which forms a major part of the Bonifacio Capital District, is one of Megaworld’s four townships in Fort Bonifacio and its biggest in Metro Manila.
It is home to about 40 residential towers, an exclusive residential village, and 23 office towers including LEED and PEZA-accredited office buildings, international schools, foreign embassies, a full-scale lifestyle mall and others.
McKinley Hill is also home to five office buildings under the portfolio of MREIT Inc., the flagship real estate investment trust vehicle of the Megaworld Group.
Meralco chief commercial officer and first vice president of customer retail services Ferdinand Geluz thanked Megaworld headed by visionary president and chief executive Dr. Andrew Tan, for allowing Meralco to build an infrastructure that represents an investment for the future generations to come.
Construction for the substation is set to begin in February 2022. The project is expected for completion by October 2022.