Meralco PowerGen Corporation (MGEN) has signed into a strategic partnership agreement with Saudi-based energy firm ACWA Power to explore and develop renewable energy projects in the Philippines and across the ASEAN region, together.

The agreement was formalized at the sidelines of the ASEAN Summit in Kuala Lumpur and was done by top executives from both companies, including MGEN President and CEO Emmanuel V. Rubio and ACWA Power Chief Investment Officer Thomas Brostrom. Also present during the signing were MGEN CIO Marc Daniel Dy, MGreen CEO Dennis B. Jordan, and ACWA Power’s senior leadership team.

Under the partnership, MGEN and ACWA Power will collaborate on utility-scale renewable energy projects, with a particular focus on solar energy at the starting phases. The agreement merges ACWA Power’s international leadership in clean energy—with an impressive global portfolio of 78.8 GW in capacity and record-setting solar tariffs—with MGEN’s local energy expertise and diversified 4,953 MW portfolio.

“This partnership marks a notable step forward in our goal to expand MGEN’s renewable energy footprint by leveraging ACWA Power’s global expertise and cost leadership in solar PV development,” said MGEN President and CEO Emmanuel V. Rubio. “We are determined to lead the energy transition toward a cleaner, more sustainable future.”

MGreen CEO Dennis B. Jordan highlighted that the partnership showcases a strategic alignment between the two firms and signals MGEN’s commitment to scaling up its clean energy investments.

For ACWA Power, the partnership also begins its official entry into the Philippine market. “This collaboration combines our global expertise in renewable energy with MGEN’s local knowledge, enabling us to deliver reliable, affordable, and sustainable power solutions that support the country’s shift towards a low-carbon future,” said Brostrom.

The companies aim to contribute to the Philippines’ energy transition goals and broader sustainable development in Southeast Asia.

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