Manila, The Philippines; 04 June 2025: Meralco PowerGen Corporation (MGEN) and ACWA Power announce today the signing of a strategic agreement to explore and develop renewable energy projects in the Philippines and the broader ASEAN region. Considered the world’s largest private water desalination company, ACWA Power is a leader in energy transition and a first mover in green hydrogen.
The agreement was formalized on the sidelines of the ASEAN Summit in Kuala Lumpur, Malaysia reinforcing the parties’ shared commitment to advancing clean and sustainable energy solutions. The signing ceremony was led by MGEN President and CEO Emmanuel V. Rubio and ACWA Power CIO Thomas Brostrom, as well as senior executives from both companies, including MGreen President and CEO Dennis B. Jordan; MGEN CIO Marc Daniel K. Dy; ACWA Chairman Mohammad Abunayyan; ACWA CEO Marco Arcelli; and ACWA VP Business Development for SSEA Salman Baray.
“We are proud to work with a trusted partner like ACWA Power to further drive innovation and foster regional collaboration. At MGEN, our vision is clear—we are determined to become the largest energy company in the Philippines and even beyond, leading the energy transition toward a cleaner, more sustainable future. 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,” MGEN President and CEO Emmanuel V. Rubio said.
“This partnership is not only a testament to MGreen’s commitment to scaling up on clean energy projects, but also a strategic move to lean on the expertise of ACWA Power. We are optimistic that this collaboration will help us in identifying and realizing impactful renewable projects,” added Dennis B. Jordan, President and CEO of MGreen.
Under the agreement, ACWA Power and MGEN will collaborate to jointly develop renewable energy projects, particularly in solar energy. This partnership combines ACWA Power’s global leadership with 78.8 GW of capacity including record solar tariffs and MGEN’s Philippine expertise across 4,953 MW of diversified assets. Together, the companies aim to advance utility-scale renewable projects to accelerate the Philippines’ energy transition and ASEAN’s sustainable development.
ACWA Power CIO, Thomas Brostrom shared, “This agreement represents our entry into the Philippines, in partnership with MGEN, which marks a major milestone in ACWA Power’s expansion across Southeast Asia. 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”.
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