MGen, Saudi firm team up for RE projects in Phl

Saudi Arabia's ACWA Power is making a foray into the Philippine green energy market through a strategic partnership with tycoon Manuel V. Pangilinan's Meralco PowerGen Corp. (MGen).

- By Brix Lelis

The agreement between the two companies involves the exploration and development of renewable energy (RE) projects, particularly solar, in the Philippines and other countries in Southeast Asia.

Further details of the deal such as financing, target capacity and project scope were not immediately made available.

MGen is the power investment arm of industry giant Manila Electric Co., while ACWA Power is the world's largest private water desalination company and the first mover into green hydrogen.