Meralco PowerGen Corp. (MGEN) and Korea Electric Power Corp. (KEPCO) are looking to expand their collaboration beyond solar energy into wind and energy storage systems to diversify the Philippines’ energy portfolio.
The new initiatives build on a memorandum of understanding signed by KEPCO and the One Meralco Group in February 2025. The agreement covered potential cooperation in nuclear energy, renewable energy, smart grids, microgrids, electric vehicles and other advanced energy technologies.
These projects reflect a shared goal of delivering sustainable and reliable energy solutions for the Philippines and strengthening their long-standing partnership.
MGEN, the power arm of Manila Electric Co. and KEPCO, South Korea’s state-owned energy company, recently formalized an agreement that replaced Solar Philippines Power Project Holdings, Inc. with MGEN unit SP New Energy Corp. (SPNEC) in the 63.3-megawatt peak Calatagan Solar Farm in Batangas.
Under the agreement, SPNEC owns 62 percent of the Calatagan solar project, while KEPCO holds the remaining 38 percent.
“Our strengthened partnership with KEPCO underscores MGEN’s commitment to advancing clean energy and supporting the country’s sustainability goals,” said Emmanuel Rubio, MGEN president and chief executive.
“By working hand in hand, 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.”
Jeon Yongsu, president and chief executive of KEPCO Philippines Holdings, Inc., said the agreement is a testament to the trust and cooperation the two companies have built.
“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,” he said.
