September 20, 2014 4:24 PM ET

Electric Utilities

Company Overview of Meralco PowerGen Corporation

Company Overview

Meralco PowerGen Corporation operates as a subsidiary of Manila Electric Co.

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Philippines

Key Executives for Meralco PowerGen Corporation

Meralco PowerGen Corporation does not have any Key Executives recorded.

Meralco PowerGen Corporation Key Developments

Meralco PowerGen Corp. Announces Expansion Plans

Manila Electric Co. is increasing its long-term power generation capacity target to 3,000 megawats (MW) to support increasing demand in the Luzon grid. The company plans to start commercial production of two coal-fired power plants in 2014 to avert power shortage. The target is 2,700 MW with a potential upside. Manila Electric Co. through its subsidiary Meralco PowerGen Corp. is prepared to put up more power plants with an aggregate generating capacity of 3,000 MW.

Meralco PowerGen Corporation and New Growth B.V. Sign a Joint Development Agreement for 460-Mw Coal-Fired Power Plant Project

Meralco PowerGen Corporation and New Growth B.V. signed a Joint Development Agreement (JDA) on August 29, 2013 for the new 460-MW (approximately) supercritical coal-fired power plant project in Mauban, Quezon. Under the JDA, Meralco PowerGen Corporation will have a 51% stake in the project company, inclusive of rights to assign up to 2% thereof to an approved assignee, with New Growth B.V. to hold the remaining 49%. The project's cost is yet to be determined and will depend largely on final design, specifications and other terms determined during the Engineering, Procurement and Construction tender process.

Meralco PowerGen Corporation to Form Joint Venture with Global Power

Meralco PowerGen Corporation is considering a joint venture with Global Power Corp. of Metro Bank group for the development of an 81MW coal fired power plant that will supply the power requirement of the Silangan copper-gold mine of Philex in Surigao Del Norte with the clarification that the same is not yet definite and still in the feasibility study phase.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 27, 2014
Global Business Power Corporation
Merger/Acquisition
October 9, 2013
Global Business Power Corporation
 

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