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MGen to acquire 50% stake in Pangasinan solar project
The Philippine Star
|August 23, 2024
Meralco PowerGen Corp. of tycoon Manuel V. Pangilinan is acquiring a 50-percent stake in Vena Energy's 550-megawatt (MW) solar project in Pangasinan, which may commence operations next year.
MGen, through MGen Renewable Energy Inc.(MGreen), recently inked an investment agreement for the development and operation of the Bugallon solar power project under 3 Barracuda Energy Corp.3BEC is a subsidiary of Vena Energy, a Singapore-based company that boasts a portfolio of 45 gigawatts of RE capacity in the Asia-Pacific region.
MGen is expecting the deal to reach financial close this month or next, paving the way for the start of project development.
The commercial operations, meanwhile, are targeted as early as October next year.
यह कहानी The Philippine Star के August 23, 2024 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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