Company Profile

OUR COMPANY

MERALCO PowerGen Corporation (MGen), the power generation arm of the Manila Electric Company (MERALCO)—the largest private sector electric distribution utility company in the Philippines—provides a reliable and cost-competitive power supply to its clientele through its diversified power generation portfolio that utilizes advanced, highly efficient, and sustainable technologies.​

Committed to better serve the country’s growing power needs, MGen fully acquired Global Business Power Corporation (GBP)—one of the leading independent power producers in Visayas and Mindanao—on March 31, 2021.​

This synergy allows MGen to offer flexible energy solutions that can serve the varying power requirements of the market by complementing its strong presence in Luzon with GBP’s operational expertise in running power generation facilities in Visayas and Mindanao.

The enlarged MGen-GBP, with a total power generation gross capacity of 2,446 MW that utilize coal, liquified natural gas, diesel, and solar technologies, is capable of supplying base, intermediate, peak load, and ancillary support. To support the country’s transition towards a sustainable future, MGen-GBP puts a premium to its goal of adding 1,500MW of renewable energy to its current portfolio.​

Company Overview

MGen was incorporated to engage in the power generation business. It is a wholly owned subsidiary of Manila Electric Co. (Meralco), the Philippines’ largest electricity distribution utility.

MGen aims to build a diversified power generation portfolio with 3,000 MW total combined capacity, including 1,000 MW in renewable energy.

It envisions to provide large-scale reliable sources of power using the most advanced and efficient technologies at competitive prices.

MGen will pioneer the utilization of high efficiency, low emission (HELE) technologies for its coal-fired power plants in the Philippines.

The company is also aggressively looking for development opportunities in renewable energy (RE) across the country in line with its goal to be a major player in the RE space.

Company History

MGen is one of the newest players in the Philippine power generation industry. Though MGen was only established in 2010, the industry is hardly new ground.
Meralco was the country’s oldest and largest power generator until it relinquished and transferred its power plants in favor of the National Power Corporation in the 1970’s. Prior to such transfer, it owned several power plants in Metro Manila including the Blaisdel, Tegen, Sucat, Malaya and the famed Rockwell plants.
Meralco continued to be the country’s oldest and largest electricity distributor, its core business since the divestment of its power generation assets.
Following the nationwide power crisis of the late 1980’s and early 1990’s, private sector participation in power generation was aggressively encouraged by the government. While Meralco continued to focus on its core distribution business, it also decided to re-enter the power generation business.
In 2010, MGen was formed with a management team composed of Filipino and expatriate executives with extensive experience in power generation projects across the United States, China, Asia, Europe, and the Middle East.
For Meralco, generating power is a strategic move that transforms the company from being a pure price-taker to a source of competitively-priced and reliable electricity.

Vision

By 2030, to lead the country’s transition towards a sustainable future by using a balanced energy mix to power the country’s growing demands.

Mission

We power the good life of the Filipino by providing reliable, cost-competitive and sustainable energy through innovative technologies and investment in people.

Values

•Excellence •Integrity
•Sustainability •Teamwork
•Innovation •Malasakit
•Ownership