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May 04, 2015 8:24 AM ET

Electric Utilities

Company Overview of Meralco PowerGen Corporation

Company Overview

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



Key Executives for Meralco PowerGen Corporation

Meralco PowerGen Corporation does not have any Key Executives recorded.

Meralco PowerGen Corporation Key Developments

Meralco PowerGen Corp. Begins Construction of 455-Megawatt Coal Plant in Mauban

The construction of the 455-megawatt coal plant in Mauban, Quezon would be commenced by Meralco PowerGen Corp. in 2015 to meet the three-year construction timeline for a power plant and it would be completed by 2018. The firm is in negotiations with banks for up to PHP 40 billion in loans to finance the construction of the project.

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.

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