Meralco Group plots renewable energy expansion with VinEnergo

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June 24, 2026 | 12:00am

MANILA, Philippines — Pangilinan-led Meralco Group is expanding its power portfolio with Vietnam’s VinEnergo in a partnership that could unlock 25 gigawatts (GW) of renewable energy (RE) and battery storage capacity.

Manila Electric Co. and its power generation arm, Meralco PowerGen Corp. (MGEN), have entered into a memorandum of understanding (MOU) with VinEnergo to explore strategic partnerships on energy security and system reliability.

Under the agreement, MGEN and VinEnergo plan to develop large-scale integrated RE and energy storage projects, with the potential to deliver up to 5,000 megawatts (MW) of baseload-equivalent capacity.

Unlike baseload power sources that provide continuous electricity output, RE technologies such as solar and wind are inherently intermittent, with generation dependent on weather conditions and resource availability.

By integrating energy storage systems, however, excess power generated during periods of high output can be stored and dispatched during peak demand, allowing round-the-clock delivery of clean energy.

“Through this MOU, we look forward to assessing how large-scale renewable energy, storage and related infrastructure can contribute to the country’s evolving energy requirements,” MGEN president and CEO Emmanuel Rubio said.

Beyond power generation, the partnership also opens the door to potential collaboration on electric vehicle (EV) charging infrastructure, spanning residential, commercial and fleet solutions.

A recent Deloitte study noted rising consumer interest in EVs in the Philippines amid higher fuel costs triggered by the ongoing global oil crisis. But limited public charging infrastructure remains a key barrier to wider adoption.

Stronger EV adoption is part of the government’s broader strategy to reduce the country’s reliance on imported oil and strengthen energy resilience against global disruptions.

Meralco executive vice president and COO Ronnie Aperocho said energy security would not be achieved by any single company or sector alone.

“It requires a whole-of-industry approach and meaningful collaborations to advance innovative and scalable solutions that will accelerate the country’s transition to cleaner energy and ensure that dependable power remains available to fuel growth and development,” Aperocho said.

As the country’s largest power utility, Meralco provides electric service to over eight million customers in Metro Manila and nearby provinces.

Through MGEN, the Meralco Group also operates a portfolio of more than 5,000 MW in combined net saleable capacity from conventional and renewable power sources.

VinEnergo general director Nguyen Anh Khoa expects the partnership with the Meralco Group to further support the Philippines’ growing energy needs and sustainability agenda.

“We also look forward to exploring broader opportunities for collaboration between Meralco, MGEN, VinEnergo and the Vingroup ecosystem to create lasting value for the communities we serve,” he said.

VinEnergo is the renewable power arm of Vietnam’s largest private conglomerate, Vingroup. The company has an initial global portfolio of 10 GW across Southeast Asia, Northern Europe and Africa.