^{In photo: (L-R) Meralco Executive Vice President and COO Ronnie L. Aperocho, VinEnergo General Director Nguyen Anh Khoa, and MGEN President and CEO Emmanuel V. Rubio}

Meralco PowerGen Corporation (MGEN) and Vietnam-based VinEnergo Energy Joint Stock Company will explore renewable energy-based solutions that could deliver up to 5 gigawatts (GW) of baseload-equivalent capacity in the Philippines under a new strategic cooperation agreement with Manila Electric Company (Meralco).

The collaboration could involve around 25 GW of integrated renewable energy and energy storage capacity, as the companies study how large-scale clean energy and storage can support the country’s growing power demand, system reliability, and long-term energy security.

Meralco, MGEN, and VinEnergo signed a Memorandum of Understanding to explore potential cooperation in power generation development, energy security, system adequacy, emerging energy technologies, and long-term power system development.

Baseload-equivalent renewable capacity refers to renewable energy and storage configured to deliver more dependable power, similar to the steady output usually associated with conventional baseload plants.

“MGEN continues to pursue opportunities that will enable a more reliable, affordable, and sustainable energy future. Through this MOU, we look forward to assessing how large-scale renewable energy, storage, and related infrastructure can contribute to the country’s evolving energy requirements,” MGEN President and CEO Emmanuel V. Rubio said.

The agreement also covers possible cooperation on electric vehicle charging infrastructure, including residential, commercial, and fleet charging solutions, as well as operational and commercial approaches that can support EV adoption in the Philippines.

VinEnergo General Director Nguyen Anh Khoa said the partnership would allow the companies to explore renewable energy solutions that can support the Philippines’ power needs and sustainability goals.

“We are pleased to partner with Meralco and MGEN to explore innovative solutions in building baseload-equivalent renewable energy solutions that can support the Philippines’ growing energy needs and sustainability goals,” Nguyen said.

VinEnergo is a Vietnam-based power developer focused on utility-scale renewable energy projects and integrated clean energy solutions, including wind, solar, battery energy storage systems, and direct energy solutions.

Established in March 2025, VinEnergo has built a renewable energy portfolio in Vietnam with several gigawatts of capacity under development and an initial international portfolio of 10 GW across Southeast Asia, Northern Europe, and Africa.

The MOU serves as a non-binding framework for discussions and studies. Future projects or investments will still be evaluated separately and will be subject to separate agreements, regulatory requirements, and the results of ongoing assessments.

“Energy security cannot be achieved by one company or one sector alone,” Meralco Executive Vice President and COO Ronnie L. Aperocho said.

He said the partnership would allow Meralco, MGEN, and VinEnergo to combine their capabilities in pursuing scalable solutions that can support the country’s transition to cleaner energy while keeping dependable power available for growth and development.

As of May 2026, MGEN’s portfolio represented a combined net saleable capacity of 5,069.7 megawatts from traditional and renewable sources, along with 56.4 megawatt-hours of battery energy storage systems.

How can large-scale renewable energy and storage partnerships help strengthen the Philippines’ long-term power supply reliability?

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