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Manila Bulletin devider Business devider The Stock Market devider Meridian Power takes full helm of Cebu plant as CPPC winds down

Meridian Power takes full helm of Cebu plant as CPPC winds down

Published Jul 8, 2025 03:45 pm
Aboitiz Power Corporation announced that its oil-fired power plant in Cebu is set to reach the end of its corporate lifespan by next year, a few years after its electrification.
In a disclosure to the Philippine Stock Exchange on Tuesday, July 8, Aboitiz Power said that the Cebu Private Power Corp. (CPPC) has shortened its corporate term to Dec. 31, 2026, as approved by the Securities and Exchange Commission (SEC).
According to the firm, shortening CPPC’s operational life follows the completion of its agreement with Vivant Group’s Visayan Electric Company, Inc. (VECO).
The plant assets were transferred to Meridian Power, Inc. (MPI) in 2023, and the end of CPPC’s corporate term formalizes MPI’s full management and operation of the facility.
”This corporate action is a routine governance step and does not impact the ongoing operations of the plant under MPI's management. Both AboitizPower and Vivant, through their respective operating entities, remain present in Cebu and continue to support the region's energy needs,” AboitizPower assured.
CPPC is a joint venture project with the Vivant Group and was commissioned in 2021 to help provide additional electricity to Cebu following the storm.
To recall, AboitizPower energized CPPC’s oil-fired power plant, which was embedded within VECO's franchise area.
During the recovery from Typhoon Odette, four generator units supplied 18 to 36 megawatts (MW) of power to VECO, helping restore electricity to priority infrastructure such as hospitals, government facilities, and Metro Cebu Water District’s pumping stations.
Last week, its consortium with J-Power and Sumitomo Corp. recently secured the right to take over the 797 MW Caliraya-Botocan-Kalayaan (CBK) hydropower plant in Luzon—marking a major financial bid for a renewable energy facility from the Power Sector Assets and Liabilities Management Corp. (PSALM).

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Aboitiz Power Corp. (AboitizPower)
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