Meralco PowerGen Corp. (MGEN), the generation unit of Manila Electric Co., and Korea Electric Power Corporation (KEPCO), are pursuing additional projects such as wind power and energy storage systems.
MGEN said yesterday that its subsidiary, SP New Energy Corp., had officially joined KEPCO as a shareholder in a 63.3-megawatt peak Calatagan Solar Farm in Batangas.
The transaction, carried out through a Deed of Accession and Amendment, saw SP New Energy take the place of Solar Philippines Power Project Holdings, Inc.
MGEN President and CEO Emmanuel V. Rubio said the deal demonstrates the company’s broader sustainability thrust.
“Our strengthened partnership with KEPCO underscores MGEN’s commitment to advancing clean energy and supporting the country’s sustainability goals,” Rubio said.
“We aim to not only ensure the continued success of the Calatagan Solar Farm, but also unlock new opportunities for innovation and growth in the Philippine energy sector,” he added.
Meanwhile, KEPCO Philippines Holdings, Inc. President and CEO Jeon Yongsu emphasized the regional importance of the alliance.
“This agreement is a testament to the trust and cooperation that KEPCO and MGEN have built over the years,” Jeon said. “Together, we are creating a stronger foundation to accelerate renewable energy development in the Philippines and set a benchmark for strategic energy partnerships across Asia.”
The latest partnership follows earlier collaborations between KEPCO and the One Meralco Group, including a memorandum of understanding signed in February to study joint ventures in nuclear power, smart grids, microgrids, electric vehicles, and advanced metering technology. — Mariana Roberto
