MGEN Power Corp., Meralco’s power generation arm, is zeroing in on Concepcion, Iloilo, for its first solar venture with Saudi Arabia-based ACWA Power, targeting a 120- to 125-megawatt capacity.

“We are looking at land in Concepcion, Iloilo. That’s our first project with them. They’re also eyeing land on their own… for the first project we’re looking at, well, the first project with them is solar in Iloilo,” MGEN president and CEO Emmanuel V. Rubio told reporters.

On the partnership’s dynamics, Rubio was candid: “We’re still discussing that. But the value ACWA will bring is its experience and its relationships with established EPCs. Hopefully, they can make this project very competitive.”

MGEN first confirmed its partnership with ACWA in June to jointly develop utility-scale solar and green hydrogen projects in the Philippines and across ASEAN. 

The collaboration, formalized during the recent ASEAN Summit in Kuala Lumpur, marks ACWA Power’s entry into the Philippine energy market while leveraging its global expertise in green hydrogen and solar PV development.

ACWA Power, known for its 78.8-gigawatt generation capacity and record-low solar tariffs, brings international experience, while MGEN contributes nearly 5,000 MW of diversified local assets and market knowledge.