MGEN did not acquire any share in SPBC, which was awarded a congressional franchise thru Republic Act 11357 to construct and install and operate microgrids in remote areas.

MGEN is not privy to any transactions of SPBC nor to any circumstances that may relate to its compliance with its franchise.

MGEN’s investment in SPNEC did not violate any law or regulation. As a publicly-listed entity, the transactions of SPNEC, including the entry of MGEN through its affiliates, have been scrutinized and approved by the Philippine Stock Exchange and the Securities and Exchange Commission.

In addition, SPNEC’s business or operations is not dependent on the franchise mentioned.

“We hope this clarifies the issue and lays to rest the disinformation coming out especially in social media,” said Atty. Christer Gaudiano, MGEN Head for Sustainability, Corporate Communications, & External Affairs.

“Applause has a short echo. What lasts longer is our obligation to keep contributing—to keep our institutions sound, and to keep our next generation of leaders engaged, prepared, and dreaming.”

With these powerful words, Manuel V. Pangilinan, Chairman of the MVP Group of Companies, set a reflective tone at the Asia CEO Awards 2025, where he was honored with the Lifetime Contribution Award for his enduring leadership and impact on Philippine business and nation-building.

In a message delivered on his behalf by Meralco PowerGen Corporation (MGen) President and CEO Emmanuel V. Rubio, Pangilinan reminded today’s leaders that while applause fades, what endures are the values that uphold institutions—integrity, perseverance, and service.

“After a lifetime in business, what endures are not the titles or milestones, but the people who continue to believe that hard work rendered with integrity and tenacity still matters,” Pangilinan said.

He urged the youth to pursue fulfillment not only through achievement but through service, emphasizing that the nation’s progress depends on a new generation of leaders willing to build upon the legacy of those who came before them.

At the same event, PLDT Inc. and Smart Communications, Inc.—two of Pangilinan’s flagship companies—were recognized among the Circle of Excellence awardees for CSR Company of the Year, underscoring the PLDT Group’s continuing commitment to nation-building through technology-enabled programs.

Through the PLDT and Smart Communities initiative, both companies champion efforts in digital wellness, disaster resilience, education, digital inclusion, and livelihood, empowering communities and promoting sustainable development across the country.

Now on its 16th year, the Asia CEO Awards remains the Philippines’ largest and most prestigious business awards program—and the biggest of its kind in Southeast Asia. With over 600 nominations from leading enterprises, the event celebrates the vision, passion, and purpose of leaders and organizations that continue to drive progress and inspire future generations.

Seven engineers from Meralco and its generation subsidiary Meralco PowerGen Corporation (MGen) are participating in the program: Rachelle Gesmundo-Varias, Regino Hibaler, Eljhon Capili, Keith Danae Suquib, Dennmarc Marcaida, Eljan Javellana, and Raymund Grant Pagulong.

Capili and Suquib recently left for Université Paris-Saclay in France to pursue a Master in Nuclear Engineering, while Gesmundo-Varias and Hibaler are already taking their Master of Engineering in Nuclear Engineering at Ontario Tech University in Canada. The remaining scholars, Marcaida, Javellana, and Pagulong, will begin studies at the KEPCO International Nuclear Graduate School in South Korea in early 2026.

This expansion follows the pilot batch of five scholars who began their degrees in 2024 at the University of Illinois Urbana-Champaign in the United States and Harbin Engineering University in China. Like their predecessors, the new scholars will undergo internships at global nuclear technology firms before returning to the Philippines to apply their expertise.

Through the FISSION program, the Meralco Power Academy (MPA) seeks to develop a pool of highly skilled Filipino nuclear engineers who will play a vital role in the country’s future nuclear energy development. MPA’s partnerships with leading universities provide scholars access to state-of-the-art nuclear laboratories, research on small and micro modular reactors (SMRs), and hands-on training with global nuclear technology companies.

The initiative supports Meralco’s broader Nuclear Energy Strategic Transition (NEST) program, which aims to explore nuclear power as a low-carbon, long-term energy solution for the Philippines’ growing electricity needs.

“Through the FISSION program, we are investing in the future of energy by equipping Filipino engineers with the specialized knowledge and global experience needed in the country’s adoption of nuclear power,” said Ronnie L. Aperocho, Meralco Executive Vice President and Chief Operating Officer. “This initiative reflects Meralco’s commitment to building a future-ready energy workforce and supporting the development of safe, secure, and sustainable nuclear energy for the Philippines.”

By developing local nuclear expertise, Meralco is helping position the Philippines to safely integrate nuclear power into its energy mix, contributing to the country’s energy security and decarbonization goals.

This initiative is seen to help boost energy security and steer the country towards a cleaner, more sustainable future in line with the Marcos administration’s push for more natural gas in the country’s energy mix.

More importantly, this will make competitively priced and affordable power accessible to a broader base of Filipino consumers.

In a deal which values the entire enterprise at US$ 3.3 biillion, MGen and AP will jointly invest in two of SMGP’s gas-fired power plants—the 1,278 MW Iligan power plant and a new 1,320 MW combined cycle power facility which is expected to start operations by the end of 2024 – and together with SMGP will invest in almost 100% of the LNG import and regasification terminal owned by Linseed Field Corporation.

Additionally, all three companies will acquire the LNG import and regasification terminal of Linseed Field Corporation. This will be used to receive, store and process LNG fuel for the two power plants, thus fully integrating the local energy sector into the global natural gas supply chain.

“This is a pathbreaking venture,” said MGen Chairman Manuel V. Pangilinan. “Apart from transforming the energy landscape of the Philippines, this symbolizes a milestone alliance among major players in the energy industry towards a more sustainable future. We are thrilled to have such reliable partners as we lay the foundation for a brighter, greener future.”

Powering Progress with Cleaner Energy

The collaboration will substantially augment the country’s power supply with over 2,500 MW of generation capacity once fully operational, backed by advanced LNG storage and regasification capabilities. This effort will not only meet the country’s energy requirements but also support its environmental objectives by significantly lowering emissions.

“Both LNG and renewables are needed to achieve a balanced energy mix and well-planned energy transition. Above all, this is a big win for the Philippines and the people. Economic development is impossible without energy security, and this investment is a definitive step forward in that direction,” Sabin M. Aboitiz, AP chairman said.

For his part, Ramon S. Ang, SMGP Chairman and President, said “For the first time, three leading power companies are working together to secure our country’s energy needs while transitioning towards cleaner power sources. This represents a major leap forward for our energy future, ensuring not just reliability but also cost-efficient power for many Filipinos.”

Echoing the government’s strategic vision for the country’s energy sector, the deal aligns perfectly with the push towards diversifying energy sources through the increased use of cleaner natural gas.

The Department of Energy’s (DoE) Philippine Energy Plan has identified LNG as crucial for the country’s energy sustainability and security, aiming to boost natural gas’s share in the power generation mix to 26% by 2040.

LNG offers significant environmental advantages over traditional fossil fuels contributing to reduced greenhouse gas emissions, combating climate change, improving air quality, and enhancing public health, making it the ideal transition fuel to a renewable energy future.

This move also aligns with the Philippines’ own goal to significantly reduce greenhouse gas emissions by 70% by 2030.

The collaboration among the three power companies represents a shared commitment to innovation, reliability, and environmental stewardship in the energy sector.

By leveraging their combined expertise and resources, the collective venture guarantees the delivery of dependable and competitively-priced energy while helping boost economic growth and environmental preservation.

A total of 2,037,450 trees have been planted and nurtured in different parts of the country under the One for Trees environmental advocacy program led by One Meralco Foundation (OMF), the corporate social responsibility arm of Meralco.

According to OMF President and Meralco Chief Corporate Social Responsibility Officer Jeffrey O. Tarayao, the successful planting and nurturing of over two million trees is a testament to the power of grassroots partnerships to impact lasting change.

“One for Trees goes beyond reforestation and embraces sustainability by working with communities to ensure that the trees they plant will also benefit their own families,” Tarayao said.

The One for Trees program, Tarayao explained, advocates multi-dimensional sustainable solutions to address reforestation and environmental protection and conservation in the Philippines while empowering communities through economic and social development.

Since its launch in 2019, One for Trees has contributed to a greener future in different parts of the country including Bohol, Bukidnon, Aklan, Agusan del Norte, Pampanga, Bulacan, Laguna, Quezon City, as well as Panay, and Cebu, where reforestation sites of Global Business Power Corporation, a wholly-owned subsidiary of Meralco PowerGen Corporation, are located.

One for Trees also provides new sources of income for tree-farming families through partnerships with people’s organizations. These strategically contribute to the program’s aim to plant five million new trees by 2026 in biodiverse landscapes in the Philippines.

“Our reforestation efforts are in line with One Meralco’s wholistic approach to embed sustainability not just in our business operations, but also in the development of the communities we serve. As we continue to engage more stakeholders in environmental protection and conservation, we remain committed to helping ensure that the responsibility and benefits of investing in our planet is shared by all,” Meralco President and Chief Executive Officer and OMF Vice Chairman Atty. Ray C. Espinosa said.

Centered on preserving and protecting the planet, One for Trees is a key initiative under One Meralco’s sustainability agenda called “Powering the Good Life” which is deeply rooted in the United Nations Sustainable Development Goals.

The company immediately coordinated with the Department of Energy and the Visayan Electric Co. (VECO) and sent an advance party in Cebu on December 19 to help assess the extent of damage to power facilities.

Meralco will be deploying a contingent of around 50 engineers and linemen, 25 of which have arrived in Cebu today, December 21, to immediately help in clearing operations and power restoration in the province.

The company is also coordinating with concerned offices, including the Philippine Navy and PLDT, for the transportation of additional personnel, 15 vehicles, 11 generator sets, and heavy equipment to the worksite. 

More personnel and portable generator sets are currently on standby and ready to be deployed to other areas that would need assistance.

The Meralco Group, through One Meralco Foundation, is working closely with the Philippine Disaster Resilience Foundation, MVP Group, the government and private sector to provide immediate relief to those severely affected by the typhoon.

In addition, Meralco PowerGen Corporation and Global Business Power Corporation are providing 20,000 liters of diesel to help fuel the generator sets of PLDT and Smart, which are working to restore telecommunications services in the affected areas.

One Meralco Group’s power generation units are targeting to build a total combined capacity of 1,500 MW of renewable energy (RE) in the next seven years as it pursues its goal of carbon neutrality or net zero emissions by 2050.

Recently speaking at a forum on business resilience and sustainability, Meralco PowerGen Corporation (MGEN) and Global Business Power Corporation (GBP) President and CEO Mr. Jaime T. Azurin said the pandemic has prompted the need for long-term transformational change under the ‘new normal.’

“We have set the ambitious target of reaching net zero by 2050, anchored on One Meralco Group’s sustainability agenda,” said Mr. Azurin. “In the next seven years, we endeavor to build 1,500 MW of renewable energy.”

He shared that they have started with BulacanSol ’s 55 MWac solar plant which commenced operations in May of this year, with more solar projects underway. Ongoing is the construction of a solar plant in Baras, Rizal while EPC [engineering, procurement, and construction] negotiations are in progress for solar plants in Isabela, Nueva Ecija and Ilocos Norte.

The Group is also eyeing hydro, wind and solar storage that can compete in mid-merit space. Mr. Azurin explained that ‘all these are in support of the country’s target of 35% RE share by 2030, and eventually 50% by 2040.’

Because of the pandemic, Mr. Azurin said, “The world has come to realize the valuable importance of building resilience and integrating sustainable goals to future-proof and create lasting impact for the greater good.”

Highlighting that the health crisis has brought to light existing vulnerabilities and limitations, not only in the power sector, Mr. Azurin said, “We must all work together to include resilience planning for both present and future shocks. Recovery plans must not be limited to short-term measures to ramp up economic activities but also to look into long-term actions that are key to future resilience.”