San Miguel Corporation has confirmed plans to build up to 10 GW of renewable energy capacity over the next ten years.
The Philippine-based company, which operates companies in the brewing, food, finance and energy sectors, confirmed its plans in a stock exchange disclosure at the end of July in response to a newspaper report.
That report said that San Miguel would make investments in hydropower, wind, battery storage and tidal power projects.
The investments would be made through San Miguel Global Power Holdings, now one of the largest power companies in the Philippines.
SMC Global Power currently operates a portfolio of coal, natural gas and hydropower plants in the Philippines with a total combined capacity of just over 3 GW. It also has plans to develop three coal-fired power plants in Mindanao, Philippines, with a combined capacity of 174 MW.