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Manila Bulletin devider Business devider Trade & Industry devider MGen, Saudi's ACWA ink deal on solar partnerships

MGen, Saudi's ACWA ink deal on solar partnerships

Published Jun 4, 2025 02:21 pm

Meralco PowerGen Corp. (MGen), the power generation unit of Manila Electric Co., announced that it has signed a partnership with Saudi Arabia’s water desalination firm ACWA Power.

In a statement on Wednesday, June 4, MGen said it signed an agreement with ACWA to explore renewable energy (RE) projects, specifically in solar energy, and accelerate the country’s energy transition and the Association of Southeast Asian Nations’ (ASEAN) sustainable development.

The partnership was signed during the recent ASEAN Summit in Kuala Lumpur, Malaysia.

According to MGen, the partnership would infuse ACWA’s expertise, as determined by the company’s 78.8 gigawatts (GW) of capacity, including solar tariffs, as well as MGen’s 4,953 megawatts (MW) worth of diversified assets.

Emmanuel Rubio, MGen’s president and chief executive officer (CEO), commended the recent signing ceremony as it would help drive innovation and regional collaboration.

“At MGen, our vision is clear—we are determined to become the largest energy company in the Philippines and even beyond, leading the energy transition toward a cleaner, more sustainable future. This partnership marks a notable step forward in our goal to expand MGEN’s RE footprint by leveraging ACWA Power’s global expertise and cost leadership in solar PV development,” he said.

Dennis B. Jordan, president and CEO of MGen Renewable Energy Inc. (MGreen), MGen’s RE unit, expressed optimism in the new collaboration, stating that “This partnership is not only a testament to MGreen’s commitment to scaling up on clean energy projects, but also a strategic move to lean on the expertise of ACWA Power.”

Thomas Brostrom, chief investment officer of ACWA, added that its partnership with MGen would mark a major milestone in the company’s expansion in Southeast Asia.

“This collaboration combines our global expertise in renewable energy with MGen’s local knowledge, enabling us to deliver reliable, affordable, and sustainable power solutions that support the country’s shift towards a low-carbon future,” he added.

Related Tags

Manila Electric Co. (Meralco) Meralco PowerGen Corp. (MGen) MGen Renewable Energy Inc. (MGreen) ACWA Power
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