MGEN subsidiary expects to exceed 1,500MW target

By Lenie Lectura – March 3, 2025
from Business Mirror

MERALCO PowerGen Corp. (MGen) subsidiary MGEN Renewable Energy Inc. (MGreen) expects to exceed its renewable energy (RE) target of 1,500 megawatts (MW) by 2030 from the current 344.5MW.

For this year, MGreen is expected to add 84MW of RE capacity from the planned 50.1MW Cordon Solar, 12.5MW Baras Solar phase 2,  and 19.8MW Bongabon Solar.

By 2026, MGreen is expected to finish the 450MW Laso Solar  and 1,750 megawatt alternating current (MWac) Terra Solar phase 1.

In 2027, phase 2 of the MTerra Solar project with a capacity of 750MWac could also be finished.

In all, these RE projects could bring MGreen’s net sellable capacity to 3,379 MWac by 2027, which is about an increase of 881 percent from 2025.

For its thermal and LNG capacity, MGen is gearing up for the 73MW expansion of Toledo plant in 2028, 670MW combined cycle-gas turbine facility in 2029, and 432MW EERI unit 4 expansion in 2029.

“In fact, for 2025, our net attributable is already around 2,610 MW. So the additional projects that I mentioned, with Atimonan, with Toledo, and note that the Batangas site, the LNG terminal, is sized to 5,000 MW and as we speak 425 MW of engines are already at the site. So we’re looking at developing another 425 MW hopefully to participate within the co-optimized market or provide mid-merit supply whenever it’s needed,” said MGen President Emmanuel V. Rubio.

MGen closed 2024 with a net sellable capacity of 2,436 MW across its diversified portfolio in the Philippines and Singapore, delivering a total of 15,296 gigawatt hours of energy which was 7 percent more versus 2023.

“This performance reflects our strategic planning, operational stability, and active participation in the optimized market,” added Rubio.

MGen reinforced its industry-leading safety performance as it achieved over 39 million safe man-hours with zero lost-time incidents and total recordable incidents.