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Manila Bulletin devider Business devider Trade & Industry devider Ayala, Aboitiz units vie for Meralco 200-megawatt power deal

Ayala, Aboitiz units vie for Meralco 200-megawatt power deal

Published Jan 16, 2026 10:34 am  |  Updated Jan 16, 2026 01:00 pm
Manuel V. Pangilinan-led Manila Electric Co. (Meralco) drew interest from 15 generation companies for a contract to supply 200 megawatts of renewable energy, a step in the utility’s shift toward cleaner power sources.
Meralco said the companies, which include units of the nation’s largest conglomerates such as Ayala Corp., Aboitiz Equity Ventures Inc., the Lopez family’s First Gen Corp., and San Miguel Corp., expressed intent to participate in a competitive selection process.
The auction is part of Meralco’s compliance with the government’s Renewable Portfolio Standards, which mandate distributors to source a portion of their supply from renewable energy developers starting Jan. 26.
The long-term power supply agreements resulting from the auction are intended to secure electricity for Meralco’s captive market at competitive prices.
Among the prospective bidders are Ayala-led ACEN Corp. and its units SanMar Solar Inc., Sinocalan Solar Power Corp., and Negros Island Solar Power Inc. The Aboitiz group is represented by AP Renewable Energy Corp., Therma Luzon Inc., Therma Visayas Inc., and GNPower Mariveles Energy Center Ltd. Co.
The Lopez group, which maintains a heavy focus on geothermal and hydro assets, signaled interest through Bac-Man Geothermal Inc., Energy Development Corp., First Gen Hydro Power Corp., and Green Core Geothermal Inc. San Miguel’s power arm is looking to participate through Mariveles Power Generation Corp. and Sual Power Inc., while GNPower Kauswagan Ltd. Co. also joined the list of interested parties.
“The strong interest from the participating power generation companies affirms the effectiveness of the competitive selection process as a mechanism for securing sufficient and least-cost supply for our customers,” Lawrence Fernandez, chairman of Meralco’s bids and awards committee, said in the statement. The deadline for the submission of bids is set for Feb. 16.
Meralco, led by tycoon Manuel V. Pangilinan, serves Metro Manila and several surrounding provinces including Cavite, Rizal, and Bulacan.
The utility recently announced a reduction in electricity rates for January, with prices falling by ₱0.1637 per kilowatt-hour. This brought the overall rate to ₱12.9508 per kWh from ₱13.1145 per kWh in December, resulting in a savings of approximately ₱33 for a typical household consuming 200 kWh.
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