SP New Energy Corp., the renewable energy subsidiary of MGen Renewable Energy Inc., has named Anthony Vergel Velasco as its new chief audit executive, strengthening its governance framework as it scales up its clean energy portfolio. Velasco brings more than 25 years of experience in internal audit and risk management, having previously held similar leadership roles at Meralco PowerGen and several publicly listed firms.
Velasco is a graduate of accountancy from San Beda College and holds a Master’s in Business Administration with a focus on financial management. His credentials include Certified Internal Auditor, Certified Information Systems Auditor, and Certified ISO-31000 Lead Risk Manager. He is also a former board member of the Institute of Internal Auditors–Philippines and WiSAP (Women in Standards and Audit Practice).
Known for his expertise in implementing risk-based audit methodologies, Velasco is proficient in applying globally recognized frameworks such as COSO (Committee of Sponsoring Organizations), COBIT (Control Objectives for Information and Related Technologies), and ISPPIA (International Standards for the Professional Practice of Internal Auditing).
SP New Energy is a key unit under MGen Renewable Energy, a wholly owned subsidiary of Manila Electric Co. (Meralco), the country’s largest power distributor. Meralco’s network spans 39 cities and 72 municipalities, covering about 55 percent of the Philippines’ total electricity consumption.
The appointment of Velasco underscores SP New Energy’s commitment to strong internal controls and governance as it expands its footprint in the fast-evolving renewable energy space.
