MGen Renewable Energy Inc. (MGreen) #46887
Created at
2025-03-04
Last update
2025-03-05
1 Parents (Involvements as child)
ID
Name
MERALCO PowerGen CORP (MGen)
Country of registration/origin
Philippines
Classification
Private company
Relationship
Parent company
Investment type
Shares/Equity
Ownership share
100.00 %
Comment
MGen Renewable Energy, Inc. (MGreen) is a wholly owned subsidiary of Meralco PowerGen Corporation (MGen) as its renewable energy unit with three operating solar plants in Luzon namely: PowerSource First Bulacan Solar Inc. (PFBSI), PH Renewables, Inc. (PHRI), and Nuevo Solar Energy Corporation (NSEC) with a total gross capacity of 198 MWac.
Source: MGen News Release
1 Children (Involvements as parent)
ID
Name
3 Barracuda Energy Corporation (3BEC)
Country of registration/origin
Philippines
Classification
Private company
Relationship
Subsidiary company
Parent relation
Joint venture of parent companies
Investment type
Shares/Equity
Ownership share
50.00 %
Comment
Vena Energy, a leader in sustainable and affordable green solutions across the Asia-Pacific region, has signed an investment agreement with MGen Renewable Energy Inc. (MGreen), the renewable energy arm of Meralco PowerGen Corporation (MGen) for the joint construction of the 550MW Bugallon Solar Power Project, located in Bugallon, Pangasinan under 3 Barracuda Energy Corporation (3BEC). MGreen is expected to take a 50-percent stake in 3BEC.
Sources: Vena Energy News Release, Manila Standard Media Report