MGen eyes sites for next wave of projects

MANILA, Philippines – Meralco PowerGen Corp. (MGEN) is securing options over large tracts of land across key parts of the Philippines for a string of future renewable energy projects, with the company paying to reserve sites while it conducts due diligence.

MGEN president and CEO Emmanuel Rubio told the Inquirer that the company had already paid for land options in several areas in Northern and Central Luzon as well as in parts of the Visayas and Mindanao to preserve its right to develop future projects.

READ: MGEN sets sights on wind power

Article continues after this advertisement

However, Rubio said the company was not yet ready to disclose specific development plans for the locations as assessments were still ongoing.

FEATURED STORIES

BUSINESS

BUSINESS

BUSINESS

“We’ve already paid for options … just to reserve the right so we can do the due diligence,” Rubio said.

One of the areas under evaluation spans about 800 hectares in southern Luzon, which Rubio described as among the company’s target sites for possible development.

He noted, however, that the parcels are still under option agreements and that negotiations and consolidation efforts remain underway.

According to Rubio, MGEN is working with aggregators and consolidators that assemble land from multiple owners before offering them for potential development.

Article continues after this advertisement

“The bid is still ongoing,” he said.

The strategy reflects how renewable energy developers are increasingly racing to secure land early as competition for viable project sites intensifies, particularly for large-scale solar developments that require vast contiguous areas.

Article continues after this advertisement

READ: MGEN, Vietnamese firm eye 25,000-MW pipeline

Rubio said MGEN would continue to focus on solar projects, while wind developments would likely be pursued alongside strategic partners.

The company, however, is staying away from geothermal exploration for now, citing the high risks and technical expertise required for the business.

“We don’t have the capability to explore,” Rubio said, noting that geothermal energy exploration remains a big gamble because resource potential cannot be guaranteed until drilling begins.

On nuclear energy, Rubio said MGEN continues to explore opportunities in the sector, although he did not elaborate on specific plans.

Your subscription could not be saved. Please try again.

Your subscription has been successful.

For overseas expansion, Rubio said MGEN remains focused on the Philippine market while continuing to grow its presence in Singapore. INQ