Meralco PowerGen (MGen), the power generation arm of Meralco, is evaluating a bid to acquire a 232 MW coal-fired power plant currently operated by Aboitiz Power in Mindanao, Philippines.

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World Future Energy Summit 2027 (WFES 2027)

Emmanuel Rubio, President and CEO of MGen, said that the company is seeking to capitalise on the economic growth and increasing demand for electricity in Mindanao, with the intention of broadening its generation portfolio.

The state-run Power Sector Assets and Liabilities Management Corp (PSALM) is preparing to auction off the generation asset, which is on a 55 hectare site in the PHIVIDEC Industrial Estate in Villanueva. The facility currently supplies electricity under a PPA due to expire in November 2031.

PSALM has published a request for consultancy services to conduct independent valuation studies and establish an official reserve price ahead of the privatisation tender. Final bids for the facility are to be submitted by 10 November.