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Manila Bulletin devider Business devider The Stock Market devider Meralco's MGen eyes green energy auctions to fuel renewable push

Meralco's MGen eyes green energy auctions to fuel renewable push

Published Jun 1, 2026 12:43 am  |  Updated Jun 1, 2026 05:45 am
MGreen Bongabon Solar in Barangay Pesa, Bongabon, Nueva Ecija. A 19.8MWac solar facility that is expected to provide clean energy to at least 20,000 homes. This is the first GEA-2 project of the Department of Energy (DOE) to be completed ahead of schedule. (Photo by Meralco PowerGen Corp.)
MGreen Bongabon Solar in Barangay Pesa, Bongabon, Nueva Ecija. A 19.8MWac solar facility that is expected to provide clean energy to at least 20,000 homes. This is the first GEA-2 project of the Department of Energy (DOE) to be completed ahead of schedule. (Photo by Meralco PowerGen Corp.)
MGen Renewable Energy Inc., the clean-energy arm of Meralco PowerGen Corp., is planning to participate in the government’s upcoming Green Energy Auction program as part of its strategy to expand its clean power portfolio.
Dennis Jordan, MGreen president and chief executive officer said in an interview that the company is looking to re-enter the competitive bidding rounds after securing wins in the initial stages of the program.
The Department of Energy is organizing several auction rounds under the program, which guarantees long-term tariffs for developers. Upcoming rounds are expected to include waste-to-energy projects, offshore wind developments, and a specific auction dedicated to rooftop, ground-mounted, and floating solar projects in the southern island of Mindanao.
The government timeline requires rooftop and ground-mounted solar installations for the Mindanao round to be operational next year. Floating solar developments are scheduled for completion between 2027 and 2029.
MGreen’s immediate focus remains on executing its current solar pipeline, including its early-stage auction victories.
Jordan noted that the company successfully deployed its projects from the second round of the government auction ahead of schedule, pointing to solar installations in the provinces of Isabela and Nueva Ecija.
The 52.8-megawatt Cordon solar facility in Isabela was completed in March 2025 under the second auction round. The company also commissioned the 19.8-megawatt Bongabon solar project in Nueva Ecija in February 2025, which was finished six months ahead of its original timeline.
Beyond its auction portfolio, parent firm Meralco PowerGen is moving forward with its flagship MTerra Solar project, which is designed to reach a total capacity of 3,500 megawatts. The first phase of the massive installation is scheduled to begin supplying the Luzon grid by August.
The solar farm will be integrated with a 4,000 megawatt-hour battery energy storage system to manage the intermittent nature of solar power generation.
The state-led auctions provide a critical mechanism for private energy developers in the Philippines by offering guaranteed off-take, which reduces the market risk for large-scale capital investments in the country's transitioning power sector.

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MGen Solar green energy auction (GEA)
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