‘MGEN to play vital role in Meralco’s growth’

The power generation arm of tycoon Manuel V. Pangilinan’s Manila Electric Co. (Meralco) is primed to drive nearly half of the group’s earnings next year amid a bold expansion strategy.

- By BRIX LELIS

Meralco PowerGen Corp. (MGEN) president and CEO Emmanuel Rubio expects the company to deliver around 44 to 46 percent of Meralco’s income in 2026, driven by investments in liquefied natural gas (LNG) and renewable energy.

“We'll be in the mid-40s with the entry of MTerra Solar, and once we have the full-year contribution of the LNG facilities that we own 40.2 percent of in Batangas,” Rubio said in an interview with ONE News’ Money Talks yesterday.

MGEN sealed in January a $3.3-billion deal with Aboitiz Power Corp. and billionaire Ramon Ang’s San Miguel Global Power (SMGP) to launch the country’s first and most expansive LNG facility.