MGen to double power plant capacity by 2030
The power generation arm of Manila Electric Co. (Meralco) is bullish about doubling its capacity by 2030 amid a roster of big projects coming online here and in Singapore, its top official said.
Emmanuel Rubio, president and chief executive officer of Meralco PowerGen Corp. (MGen), said their net saleable capacity and attributable capacity are seen to hit 10,346 megawatts (MW) and 5,288 MW, respectively.
Currently, the group’s portfolio in the two markets includes 5,068 MW of net saleable capacity and 2,559 MW of attributable capacity.
MGen is banking on the activation of several “growth” projects, such as the P200-billion Luzon solar park, dubbed MTerra Solar.
MTerra Solar alone will provide a massive push to the group’s capacity expansion goals. Poised to go full online by 2027, the facility located in Bulacan and Nueva Ecija, is designed to have 3,500 megawatts (MW) of total capacity. It will also be equipped with a 4,500 megawatt-hour battery energy storage system.
The 1,200-MW Atimonan One Energy Project, Toledo expansion, Excellent Energy Resources, Inc.’s Unit 4 and PacificLight Power’s 670-MW hydrogen-ready combined cycle gas turbine power plant would also fuel the company’s growth momentum, Rubio said.
The CEO said the planned Terra Solar 2 is not even counted as the firm has yet to finalize its capacity.
Meralco, led by tycoon Manuel V. Pangilinan, was confident about the power generation subsidiary’s capacity to continue pitching in higher contributions in the next few years given its growing portfolio.
In the first six months of 2025, MGen saw its sales volume soar by 66 percent to 12,644 gigawatt hours.
The significant jump in MGen’s contribution was attributed to its participation in the reserve market, investment in Chromite Gas Holdings Inc., the activation of the 100-megawatt plant in Singapore and the higher plant availability across its portfolio.
