(Bloomberg) -- San Miguel Corp., the Philippines' largest company, said it will start to operate 690 megawatts of its battery-based energy storage facilities early this year, as it seeks to expand investments in renewables.
Unit SMC Global Power Holdings Corp. targets to complete this year 31 energy storage facilities with total capacity of 1,000 megawatts, San Miguel said in a stock exchange filing. This will augment the group's renewable energy portfolio, which includes solar, liquefied natural gas and hydroelectric power plants, it said.
One of the Philippines' largest power generators, San Miguel in July said it will drop new coal projects from its expansion plan as it transitions to a low-carbon future.
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