MGEN, ACWA Power Partner for ASEAN Clean Energy Drive

Meralco PowerGen Corp. (MGEN) has partnered with Saudi-based ACWA Power to explore and develop renewable energy projects in the Philippines and across the ASEAN region.

The strategic agreement was signed on the sidelines of the ASEAN Summit in Kuala Lumpur by MGEN President and CEO Emmanuel V. Rubio and ACWA Power Chief Investment Officer Thomas Brostrom.

Also present were MGEN Chief Investment Officer Marc Daniel Dy, MGreen CEO Dennis B. Jordan, and ACWA Power’s senior leadership team.

Under the deal, both companies will jointly pursue utility-scale renewable energy projects, with solar energy as the primary focus in the initial stages.

ACWA Power brings to the table a global clean energy portfolio of 78.8 gigawatts in capacity, including record-setting solar tariffs across several markets.

MGEN contributes local expertise and a diverse 4,953-megawatt energy portfolio that spans the Philippines’ growing power needs.

“This partnership marks a notable step forward in our goal to expand MGEN’s renewable energy footprint by leveraging ACWA Power’s global expertise and cost leadership in solar PV development,” Rubio said.

“We are determined to lead the energy transition toward a cleaner, more sustainable future,” he added.

MGreen CEO Dennis B. Jordan said the collaboration reflects a clear alignment of strategic goals and MGEN’s strong commitment to scaling up clean energy investments.

ACWA Power is a leading international developer, investor, and operator of power generation and desalinated water plants, with operations in over a dozen countries.

MGEN is the power generation arm of Manila Electric Co. (Meralco), the largest electric distribution utility in the Philippines.