MERALCO POWERGEN CORP. (MGen), a subsidiary of Manila Electric Co. (Meralco), has signed two power supply agreements with licensed retail electricity supplier EvoEnergi to support the latter’s delivery of electricity to contestable customers.
Under the agreements, MGen’s thermal and renewable energy arms — Global Business Power (MThermal) and MGen Renewable Energy, Inc. (MGreen) — will supply electricity to EvoEnergi sufficient to serve 62,000 households, using both renewable and thermal energy sources.
“This partnership with EvoEnergi reflects the strength of MGen’s diversified energy portfolio. By combining conventional and renewable sources, we are helping meet the evolving needs of the retail electricity market while supporting the country’s transition to a cleaner and more secure energy future,” MGen President and Chief Executive Officer Emmanuel V. Rubio said.
EvoEnergi, an affiliate of D&L Industries, Inc., is among the first retail electricity suppliers in the country to join the government’s Retail Aggregation Program, which allows multiple customers to consolidate their demand and select a preferred power supplier.
MGen said the agreement also supports EvoEnergi’s supply portfolio in meeting obligations under the Renewable Portfolio Standards, which require power suppliers to source a portion of their supply from eligible renewable energy resources.
“With our expanding customer base, this partnership provides access to a more diversified and sustainable energy supply. It solidifies our shared commitment to sustainability and forging a better future for the Philippines,” D&L Industries President and Chief Executive Officer Alvin Lao said.
MGen operates a diversified portfolio of power generation assets equipped with advanced technologies. Its main subsidiaries include MThermal, MGreen, and MGen Gas Energy Holdings, Inc. It also holds equity interests in PacificLight Power and SP New Energy Corp.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
