Manila Electric Co. (Meralco) solar subsidiary MSpectrum Inc. has entered into a partnership with Japan’s Tokyo Century Corp. (TC) and JFE Engineering Corp. (JFEE) to develop solar energy projects across the Philippines.
The three companies established MSpectrum Taiyo Inc., a new joint venture company. The partnership combines MSpectrum’s local market knowledge and Meralco’s expertise in power distribution, with TC’s global financial capabilities and JFEE’s experience in engineering and renewable energy systems.
Under the agreement, MSpectrum holds a 60 percent stake, while TC owns 30 percent and JFEE holds 10 percebt. The initiative targets commercial and industrial clients, with a focus on supporting Japanese enterprises operating in the country. The goal is to speed up the adoption of solar power while helping businesses lower energy costs and reduce carbon emissions.
This collaboration builds on an existing partnership that started in 2018 under Japan’s Joint Crediting Mechanism program, which led to successful solar projects between 2019 and 2021.
Company leaders stated that the move supports the Philippines’ energy transition goals amid growing demand for power from economic growth. JFEE brings expertise from over 100 megawatts of solar projects in Japan, alongside existing operations in the country. Past clients of MSpectrum include Philip Morris, Toyota, Ajinomoto, Robinsons, Puregold, and PLDT, among others.
