Meiya Power’s recently appointed CEO, Manuel Perez, talks to Bryan Camoens about the challenges and trends facing the industry, MPC’s focus on diversification, and his management style and vision for the company that shares his own corporate values.
You have recently been appointed the CEO of Meiya Power. Can you please explain the differences in your management style?
People are company’s most important and strategic asset. My management style is to build a strong team, and to promote continuous team building in a collaborative environment. I encourage open communications, not only with the senior management team, but with all employees as I believe in the wisdom of crowds. I think it is important to solicit as much input from my colleagues, set the direction and then provide the support and resources needed for the team to achieve the goals.
What have been some of the challenges being faced by the power sector over the last year?
The global financial turmoil and the quickly changing competitive landscape have been challenging over the last year. The ever rising risk premiums and the tight credit situation had no doubt created a difficult situation for the energy business in general. MPC, even though not immune to these economic pressures, has distinguished itself by remaining profitable as a result of its long term strategy of building a diversified portfolio of assets, and the disciplined growth that had taken place in the previous years. MPC has not only survived the financial crisis but has seized the opportunity to grow and expand, and made substantial improvements in its operating assets to enhance efficiency and reduce costs.
There are still many challenges ahead for the sector. Over the past years, MPC has successfully established itself in the industry because it has been a much-sought after partner for many power projects in Asia. This is the result of a proven track record of good corporate governance and over a decade of sustainable profitability.
Facing the current and future challenges, we will continue to build on our reputation as the “Partner of Choice” by reinforcing our long established good relationships with our partners, stakeholders and the community that we serve. We will also focus on strategic portfolio management and operational efficiency, and to stay agile in our decision making process in order to differentiate ourselves and remain competitive in rapidly changing environment.
MPC has been very proactive in terms of setting up environmental power plants; why is this so and how has this been received by the general public? Is MPC looking to move towards renewables in the future, and why has there been a surge towards renewable in the past couple of years?
It is always our business strategy to focus on diversification and to build a balanced portfolio. MPC believes it makes good business sense to protect the environment and support the sustainable development of energy solutions. We integrate environmental considerations into our business activities and aim to operate a diversified portfolio that has a substantial component of cleaner fuels and renewable energy. By doing so, MPC continues to expand its clean and renewable energy portfolio and to explore further alternate energy sources.
Climate change is a global issue that draws the world’s attention. As a responsible power producer, we are looking to take a more proactive stance towards managing our climate change needs and we are striving to do our best to do our part for the environment.
Where do you see the trends in the power generation sector heading towards within the next decade so?
The renewable energy industry has witnessed rapid growth in the last couple of years due to a number of reasons including energy security and the need to counteract climate change. Also in response to global trend of greenhouse gas emission reduction, countries around the world are rapidly expanding their renewable capacity to meet the increasing power demand while mitigating the environmental impact of greater energy production and consumption. As a consequence, the renewable energy is one of the few sectors that has continued to grow and remain profitable during the economic crisis, and is expected to carry on growing.
In view of the rising concerns about the climate change, more policy makers are actively creating or implementing favorable renewable energy policies, and planning economic frameworks related to emission reduction. A number of governments also announced plans to greatly increase the public finance of renewable energy and other clean technologies in recent years.
Without doubt, the shift towards a more sustainable energy future is already happening and it will continue. However, the future energy picture will depend not only on environmental considerations, but also on economic, technological and political factors.
What is your vision for MPC under stewardship and how confident are you of thinking that you can achieve that goal?
MPC is a unique company with a great dedicated and experienced team, and an enviable reputation as one of the leading power companies in the industry. I joined MPC because of its successful business model and its corporate values which are my very own. I am proud of MPC’s past achievements and I am committed and devoted to further enhance and strengthen its market position. There will be much more to do in order to achieve these goals. Adjusting course when necessary, properly identifying and setting our priorities in an active and efficient manner is a major part of my role as CEO.
It is also a great time to position our business for the future in this challenging time. I am confident that we are well positioned to further capitalize on our reputation as “Partner of Choice”, and we will continue to grow while preserving and enhancing our corporate values. That is our focus at MPC and I have no doubt that we are becoming even stronger because of it.
As one of the leading IPP in Asia, what does MPC have to offer Asia’s rapidly developing and modernizing electric power and energy sectors that will assist in creating a more efficient and responsible power industry in the region?
We are committed to providing sustainable, reliable and affordable energy to meet the growing power demand in the region, while protecting the environment. MPC has been pursuing a business strategy of fuel diversification which is not only a good risk management strategy but also reflects our dedication to minimize the environmental impact of power generation. Moving forward, we will be focusing even more on renewable energy.
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