Meralco PowerGen Corp. (MGen), the generation arm of Manila Electric Co. (Meralco), has inked two power supply agreements (PSAs) with retail electricity supplier EvoEnergi Inc., covering enough energy to serve approximately 62,000 households.
Announced Tuesday, the agreements were executed through MGen’s renewable subsidiaries, MThermal and MGreen, and aimed at supplying a blended mix of conventional and renewable power to customers in the deregulated electricity market.
While the financial terms remain undisclosed, both firms described the arrangement as “a competitive offer.” MGen president and CEO Emmanuel Rubio noted the deal reflects MGen’s “diversified energy portfolio” and supports the country’s energy transition. “By combining conventional and renewable sources, we are helping meet the evolving needs of the retail electricity market,” Rubio said.
EvoEnergi, a member of the Lao Group and affiliated with D&L Industries, is a key player in the retail electricity space and among the first to implement retail aggregation in the Philippines. The new PSAs are expected to bolster EvoEnergi’s supply mix while aiding compliance with Renewable Portfolio Standards (RPS), which require a portion of electricity to be sourced from renewables.
Alvin Lao, CEO of D&L Industries, emphasized the partnership’s commercial and environmental value: “It provides access to a more diversified and sustainable energy supply, solidifying our commitment to sustainability and a better energy future.”
The deal also expands the market footprint of MGen’s renewable energy arm beyond government programs such as the Green Energy Option Program (GEOP) and the Green Energy Auction Program (GEAP).
MGen currently operates a 4,953-MW portfolio of renewable and thermal power assets and holds a stake in Singapore’s LNG-powered Pacific Light Power.
