Meralco PowerGen Corp. (MGen) plans to increase its power generation portfolio by adding 1,500 megawatts (MW) of renewable energy. The company will implement this plan through its wholly owned subsidiary, MGen Renewable Energy Inc. The powercorp is based in the Philippines.
MGen also announced that it will develop Atimonan One Energy, Inc. as a coal plant. The company also plans to expand the 80 MW Toledo coal-fired power plant. The company is currently evaluating and selecting the engineering, procurement, and construction (EPC) contractor for the projects.
MGen has been actively pursuing renewable energy projects in recent years. In 2020, the company announced plans to develop a 150 MW solar power plant in Tarlac, Philippines. The project is expected to be completed by 2025 and will generate enough electricity to power around 75,000 homes.
In 2019, Meralco PowerGen also signed a memorandum of understanding with the Philippine government to develop a 200 MW wind power project in Ilocos Norte, Philippines. The project is expected to be completed by 2026 and will generate enough electricity to power around 100,000 homes.
The addition of 1,500 MW of renewable energy to MGen’s portfolio will not only increase the company’s power generation capacity but also contribute to the country’s efforts to reduce its reliance on fossil fuels and decrease greenhouse gas emissions. The Philippines has set a target of increasing its renewable energy capacity to 50% of its total power generation mix by 2030, and MGen’s plans are expected to contribute to this goal.
