Press Releases
MGen site activities suspended
In line with President Rodrigo Duterte’s order on the enhanced community quarantine in Luzon amid the COVID-19 pandemic, Meralco PowerGen Corporation (MGen) would like to announce that activities at sites owned by its project companies have been suspended since...
MGreen unit signs EPC contract for 50MWac Bulacan Solar Project
PowerSource First Bulacan Solar, Inc. (PFBSI) on Friday executed an engineering, procurement and construction (EPC) contract with SUMEC Complete Equipment & Engineering Co. Ltd. for its solar power project. The contract covers a 50-MWac solar plant in San Miguel,...
SBPL switches on PH’s most advanced coal power plant; boosts Luzon supply with 500 MW
San Buenaventura Power Ltd. Co. (SBPL) on Wednesday marked the commercial operations of its new 500-Megawatt (MW) supercritical coal-fired power plant with a Switch-On Celebration led by Philippine President Rodrigo R. Duterte. In his speech, President Duterte...
MGreen gets funding for solar projects
MGEN Renewable Energy, Inc. (MGreen) has secured equity funding amounting to P424 million that will be used to invest in various solar projects under development. These solar projects have a combined capacity of 210 megawatts (MW) and total combined project cost of...
Meralco to Invest in 1,000MW Green Energy Projects
MERALCO POWERGEN PRESIDENT AND CEO ROGELIO L. SINGSON AND MERALCO PRESIDENT AND CEO ATTY. RAY C. ESPINOSA Manila, Philippines (June 5, 2019) – Manila Electric Co. (MERALCO) today announced a significant expansion of its plans to invest in renewable energy...
In the News
JG Summit, MPIC sell stakes in GBP to Meralco PowerGen
By Sunstar Cebu LISTED firm JG Summit Holdings Inc. and Metro Pacific Investments Corp. announced Wednesday, Dec. 23, 2020 the signing of agreements with Meralco PowerGen Corp., a wholly owned generation subsidiary of Manila Electric Company, to transfer their...
Meralco Powergen acquires 100% of Global Business Power
By Bilyonaryo.com JG Summit Holdings Inc. and Metro Pacific Investments Corp. (MPIC) are consolidating their power businesses under a single entity to increase operational efficiency and create scale. Based on filings with securities regulators, JG Summit and...
Meralco PowerGen to take over Global Business Power Corp.
By Jon Viktor D. Cabuenas | GMA News Meralco PowerGen Corporation (MGen), a wholly-owned generation subsidiary of the Manila Electric Co. (Meralco), is set to fully acquire and take over Global Business Power Corporation (GBP), a leading power producer outside...
Meralco PowerGen absorbs, buys out 100 pct of Global Business Power
By ABS-CBN News MANILA - Meralco's power generation firm PowerGen Corp (MGen) has acquired 100 percent ownership of Global Business Power Corp (GBP) in a move to organize the group's power assets. MGen signed agreements with JG Summit Holdings and Beacon...
MGen poised to take full control of Vis-Min power producer
By RONNEL W. DOMINGO | Philippine Daily Inquirer Meralco PowerGen Corp. (MGen) signed agreements with a firm under the Manuel Pangilinan-led group as well as JG Summit to fully own Global Business Power Corp. (GBP), for a combined transaction worth about P34.4...
Meralco PowerGen buys GBP for P34B
By Maria Romero | The Daily Tribune The group of businessman Manuel V. Pangilinan, through Meralco PowerGen Corporation (MGEN), fully acquires tycoon George Ty’s power company, Global Business Power Corporation (GBP), for P34 billion. In a disclosure on...
Meralco unit buys 86% stake in GBP
By Jordeene B. Lagare | Manila Times Meralco PowerGen Corp. (MGen), the power generation unit of Manila Electric Co. (Meralco), acquired 86 percent stake in Global Business Power Corp. (GBP). MGen signed on Wednesday the signing of share purchase agreements...
Meralco PowerGen acquires 86% in affiliate firm GBPC for P34.47-B
by Myrna M. Velasco | Manila Bulletin Meralco PowerGen Corporation (MGEN), a power generation investment subsidiary of Manila Electric Company (Meralco) has acquired 86-percent shareholdings of affiliate firm Global Business Power Corporation (GBP) for P34.466...
MGen takes full ownership of GBP
By The Philippine Star MANILA, Philippines — Gokongwei-owned JG Summit Holdings Inc. and Pangilinan-led Metro Pacific Investments Corp. (MPIC) are consolidating their power sector investments under Manila Electric Co. (Meralco). Under the plan, JG Summit and...
Meralco takes full control of Global Business Power
By Alena Mae S. Flores Manila Standard Manila Electric Co. said Wednesday wholly-owned unit Meralco PowerGen Corp. will take full ownership of Global Business Power Corp. after acquiring an additional 86-percent stake for P34.466 billion. Meralco said in a...