Meralco

company 1 Deal 3 Partners

Meralco is the largest electric distribution utility in the Philippines, serving over 7.6 million customers across Metro Manila and surrounding provinces. Through its subsidiaries, it also engages in power generation, retail electricity supply, and other energy-related services, with a generation portfolio exceeding 2.2 GW.

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Founded 1903 7,000 employees Parent: Metro Pacific Investments Corporation

UtilityOperatorDeveloperInvestor

Strategic Overview

Expanding its renewable energy portfolio through Meralco PowerGen (MGen) to meet growing demand and support the country's energy transition goals.
Continuously modernizing and expanding its electricity distribution network to improve reliability and efficiency for its over 7.6 million customers.
Exploring smart grid technologies, energy efficiency solutions, and diversifying into other energy-related services and digital infrastructure (e.g., fiber optics through Radius Telecoms).

Deal History (1)

Korea Eximbank, KHNP, and Meralco partner on Philippine nuclear energy projects

Partner Nuclear Philippines Mar 4, 2026

Deal Activity from Public Sources

Meralco PowerGen Corporation's (MGen) subsidiary, PH Renewables, Inc. (PHRI), commenced commercial operations of its 75 MWac solar power plant in Baras, Rizal.

Development Solar PV Philippines December 2023 75 MW

Meralco PowerGen Corporation (MGen), through its subsidiary PH Renewables, Inc. (PHRI), announced plans to develop a 150 MW solar power plant in Bataan.

Development Solar PV Philippines November 2023 150 MW

San Buenaventura Power Ltd. Co. (SBPL), a subsidiary of Meralco PowerGen Corporation (MGen), inaugurated its 455 MW coal-fired power plant in Mauban, Quezon.

Development Coal Philippines October 2023 455 MW

Korea Hydro & Nuclear Power (KHNP), Korea Eximbank, and Meralco sign a tripartite MOU for cooperation on new nuclear power projects in the Philippines.

Partnership Nuclear Philippines March 2026 with Korea Hydro & Nuclear Power (KHNP)

Investment Focus

Technologies

Nuclear1

Geography

Philippines1

Key People

Manuel V. Pangilinan

Chairman

Atty. Jose P. De Jesus, Jr.

President and CEO

Betty C. Siy-Yap

SVP and Chief Finance Officer

Ronnie L. Aperocho

EVP and Chief Operating Officer

Track Record

2,250

MW Total

Deals Completed

121

Years Active

Notable projects: 75 MWac Baras Solar Power Plant, 50 MWac San Miguel Solar Power Plant, 455 MW San Buenaventura Coal-fired Power Plant

Detailed Analysis

Sectors

UtilitiesEnergy TransitionDigital/Telecom

Technologies

TransmissionSolar PV (2 deals)Natural GasCoal (1 deal)Battery StorageData Center

Geographies

Philippines (3 deals)

Deal Stage

OperatingGreenfieldBrownfield

Subsidiaries

Meralco PowerGen Corporation (MGen)Meralco Energy, Inc. (MEI)Meralco Industrial Engineering Services Corporation (MIESCOR)Radius Telecoms, Inc.PH Renewables, Inc. (PHRI)

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