Emerging Power inks supply deal with Mabuhay Energy

By Brix Lelis – April 8, 2025 | 12:00am
from The Philippine Star

MANILA, Philippines — Emerging Power Inc. (EPI), the renewable energy arm of Nickel Asia Corp., has teamed up with Mabuhay Energy Corp. (MECO) for the supply of clean power.

The deal involves MECO buying a portion of the output of EPI’s major solar projects in Zambales – the 72-megawatt-peak Subic New PV Power Plant and the upcoming 70-MWp Cawag Solar Phase 1.

Financial details of the deal were not immediately made available.

“We are honored to have been chosen by MECO as a partner in expanding their business of delivering clean and sustainable energy to their RES (retail electricity supply) customers,” EPI president and CEO Roy Joseph Fernandez said.

A licensed power retailer, MECO is a wholly owned subsidiary of the Aviva Group of Companies that has been offering customizable energy solutions since 2017.

EPI, meanwhile, currently owns and operates two solar facilities in Zambales and is actively constructing other green energy projects across the country.

“Through our expanding solar portfolio, which includes the Subic and Cawag power plants, we steadfastly aim to contribute to the Philippines’ renewable energy goals, which should help enhance the country’s energy security in the near term,” Fernandez said.

Earlier, EPI signed a P5.18-billion senior term loan facility with Yuchengco-led Rizal Commercial Banking Corp. to bankroll the construction of the Cawag project.

Upon full completion, the solar farm is poised to have a capacity of 145 MW, enough to power at least 90,000 homes and displace about 200,000 metric tons of carbon emissions annually.

Apart from solar, EPI is also looking to develop geothermal, wind, run-of-river and battery storage projects in a bid to bring an additional 1,589 MW of capacity to its portfolio within the next three years.