Thursday 17 October
Meralco-led consortium seals power distribution deal for New Clark City Oct 2, 2019 @ 11:10

Meralco injects P424M in capital into unit’s solar projects


MGen Renewable Energy Inc. received a major financial boost from its parent firm Manila Electric Co.

In a regulatory filing, Meralco said its board approved MGen’s request for equity funding of P424.2 million, which will be used to fund the development of solar projects with combined capacity of 210 megawatts.

The projects will require an investment of P10.01 billion.

MGreen, the renewable energy subsidiary of Meralco PowerGen Corp., aims to develop 1,000 MW of renewable energy projects in the next five to seven years.

Please follow and like us:

Tags: , ,

Related Stories
Power utility giant Manila Electric Co. (Meralco) is scaling up investments in the renewable energy
An official of Meralco PowerGen Corp. (MGen) said the government should let market forces take
Energy Regulatory Commission chief Josefina Magpale-Asirit said the state power regulator is looking to issue
Manila Electric Co. (Meralco) is on the defensive saying its seven power supply agreements (PSAs)


Trending News

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.