Power retailer Manila Electric Co. (Meralco) said Tuesday it strengthened its collaboration with Korea’ state owned electric utility company Korea Electric Power Corp. (KEPCO) to accelerate the adoption of energy technologies in the Philippines.
Meralco and KEPCO signed a memorandum of understanding (MOU) to foster technical cooperation and exchange programs for nuclear energy, renewable energy, smart grids, micro grids, energy storage systems, electric vehicles, advanced metering infrastructure, smart substations and distribution automation.
The companies will also engage on technical competency development through information and employee exchange programs for specific training courses.
The parties will explore potential collaborations in advisory and consulting services, as well as other power and energy initiatives of mutual interest.
“This memorandum of understanding marks an important step for both KEPCO and Meralco. Enshrined here is a commitment to exchange knowledge, strengthen capabilities, and work together toward a smarter, more resilient energy future,” Meralco chairman Manuel Pangilinan said.
“We’re looking forward to work together with KEPCO. This collaboration allows us to refine our strategies, integrate new technologies, and find better ways to power the future. Beyond the business objectives, we want to forge and strengthen relationships that will drive meaningful progress,” he said.
The latest partnership builds on Meralco’s earlier MOU with KEPCO, and its knowledge data network signed in November last year to advance the use of smart metering technologies.
KEPCO operates the 200-megawatt coal-fired power plant in Naga City, Cebu, a joint venture of KEPCO Philippines Holdings Inc. and Cebu-based company SPC Power Corp.
KEPCO also has a 38-percent share in Solar Philippines subsidiary Solar Philippines Calatagan Corp., which runs a 63.3-MW solar farm in Calatagan, Batangas.
Meralco, the country’s biggest power distributor, is continuously working with industry players to progress investments on innovative projects that will strengthen its electricity distribution system and contribute to ensuring the country’s long-term energy security.