A Meralco subsidiary would spend Php18 billion to increase its capacity for renewable energy.

Adding to its Philippine portfolio of renewable energy, Manila Electric Company (Meralco) would invest PHP18 billion. Meralco PowerGen Corporation (MGen), a Meralco affiliate, made the investment.

MGen plans to create about 2 GW of gross solar and wind energy with this investment. A 2030 completion date is anticipated for the projects. By 2030, the company's pipeline of further RE projects will have cut direct emissions by 20%. Both the 18.75 MWac and the 49 MWac solar plants in Nueva Ecija are included in this.

The 20-year power supply agreements (PSAs) for both of these renewable energy projects were obtained through the Department of Energy's (DOE) second round of the Green Energy Auction Program (GEAP).

The 68MWac solar farm in Currimao, the 75MWac farm in Baras, and the BulacanSol solar plant are all included in MGreen's portfolio of renewable energy sources. PHDRI finished the commissioning tests for Phase 1, 67.5MWac, scheduled to begin commercial operations by the middle of August 2023, and Phase 2 by the middle of 2024.