Telecommunications giant PLDT is planning to venture into the renewable energy sector, aiming to expand its residential portfolio by offering solar power alongside its traditional home internet services.
In a recent statement, the company revealed that the strategic move is designed to provide a seamless, all-in-one upgrade for modern households looking to transition to sustainable energy.
“If people can have solar panels installed together with internet in one go, it should be very compelling for our customers, especially the ones who wish to future-proof their homes,” said PLDT Chief Operating Officer Butch Jimenez.
The initiative is part of the telco’s broader ambition to deepen its footprint in the residential market by offering comprehensive home solutions.
“Aside from enabling our customers to upgrade their homes in the most convenient possible way, this also helps PLDT own the whole home, and not just the internet portion,” added PLDT Home head John Palanca.
PLDT disclosed that preliminary test marketing for the bundled service has already yielded “highly promising results.”
While the company intends to collaborate with a top-tier solar energy provider to roll out the project, specific details regarding the partnership remain under wraps.
The diversification comes on the heels of strong first-quarter growth for PLDT, driven largely by its enterprise division and digital fintech arm, Maya, even amidst global economic headwinds.
PLDT operates under the MVP Group of Companies spearheaded by tycoon Manuel V. Pangilinan. The conglomerate’s existing portfolio includes TV5 and Meralco PowerGen Corporation, the latter of which already holds active investments in solar power generation.