MGreen Exceeds 778 MW Philippines Solar Power Target
The Philippines’ Meralco affiliate, MGEN Renewable Energy Inc. (MGreen), has successfully reached its target of developing 778 megawatts (MW) of solar capacity by 2024. MGreen, a subsidiary of Meralco PowerGen Corp. (MGen), achieved this milestone through the completion of key solar projects in Ilocos Norte and Nueva Ecija. This achievement comes amidst a global surge in solar energy adoption, with a stunning 34% growth reported in 2024 [https://www.pvknowhow.com/news/solar-energy-growth-stunning-34-surge-in-2024/]. Other significant projects, like the $3.3 billion Terra Solar Project, further demonstrate the Philippines’ commitment to large-scale renewable energy infrastructure [https://www.pvknowhow.com/3bn-terra-solar-project-to-be-built-by-jacobs/].
More Philippines Solar Power Projects to Come
MGreen has a robust pipeline of solar projects slated for commissioning this year. These include the 115-MW Tarlac-2 solar plant, the 68-MW Ilocos Norte solar plant, and the 110-MW Nueva Ecija-2 solar plant. These projects contribute to the growing trend of renewable energy expansion in the Philippines, as highlighted by initiatives like the CREC and SMC partnership for a 153.5MW solar power plant [https://www.pvknowhow.com/news/solar-power-plant-partnership-in-philippines/].
The 110-MW Nueva Ecija-2 solar plant in Peñaranda, Nueva Ecija, a joint venture with Singapore’s Blueleaf Energy and Solar Philippines Power Project Holdings Inc. (SPPHI), is expected to commence operations by the fourth quarter of this year. This project will inject vital renewable energy into the national grid, addressing the increasing demand for clean and sustainable power.
The 68-MW Ilocos Norte solar plant in Currimao, a collaboration with Vena Energy, a prominent Asia-Pacific renewable energy company, is anticipated to be operational by the third quarter of 2024.
Company’s Positive Outlook on Philippines Solar Power
Jaime Azurin, MGreen’s president and CEO, expressed confidence in the company’s future, stating that their growing solar portfolio is poised to fuel positive growth in the coming years. MGreen is committed to playing a crucial role in the Philippines’ energy transition through the development and operation of renewable energy projects. “We are very optimistic about the future of MGreen. Our portfolio of solar projects will drive positive growth for the company in the coming years,” Azurin affirmed.
Beyond solar, MGen is actively exploring other renewable energy avenues, including wind power and battery energy storage systems (BESS), like the one incorporated in the Terra Solar project [https://www.pvknowhow.com/news/construction-starts-on-terra-solar-philippines/]. These initiatives will further diversify MGen’s renewable energy portfolio and contribute to the nation’s broader energy transition goals.
Philippines Solar Power: Renewable Energy Targets
The Philippines has set ambitious renewable energy targets, aiming for 35% renewable energy in its energy mix by 2030 and 50% by 2040. These targets align with the country’s commitment to the Paris Agreement and its ambition to become a leader in renewable energy within Southeast Asia. The government’s focus on sustainability is further evidenced by events like Solar & Storage Live Philippines 2025, showcasing the latest innovations in the sector [https://www.pvknowhow.com/news/solar-innovations-philippines-latest-innovations/].
The Philippines’ renewable energy sector is expected to attract substantial investment, driven by supportive government policies and the increasing demand for clean energy. The Department of Energy (DOE) has designated several Renewable Energy Zones across the country to facilitate the development of these projects. The growth of this sector is projected to create jobs and stimulate economic growth, particularly in rural areas where many projects are located, with the DOE estimating up to 100,000 new jobs by 2030.
Future of Meralco in Philippines Solar Power
MGen’s success in surpassing its solar capacity target underscores its commitment to renewable energy. With a strong project pipeline, a focus on innovation and sustainability, and strategic partnerships, MGen is well-positioned to lead the Philippines’ energy transition. As the nation progresses towards its renewable energy goals, MGen and its partners will remain key players in building a cleaner, more sustainable energy future for the Philippines. Further insights into the evolving renewable energy landscape in the Philippines can be found in resources like this article on two stunning solar projects [https://www.pvknowhow.com/news/renewable-energy-philippines-expands-footprint/].
