MGEN eyes Malaysia entry to supply data center power
MERALCO POWERGEN CORP. (MGEN), the power generation arm of Manila Electric Co. (Meralco), is planning to enter Malaysia to capture rising electricity demand from data centers.
MGEN President and Chief Executive Officer Emmanuel V. Rubio said the company is eyeing the development of new or existing power plants with a capacity of up to 1,500 megawatts (MW) by 2028.
“There’s opportunity. Malaysia’s preparing for investments in data centers,” he told reporters last week.
“They’re expecting or trying to attract 8,000 MW of capacity (for data centers).”
Malaysia has become a data center hub in Southeast Asia, benefiting from its proximity to Singapore and the growing need for cloud and artificial intelligence services.
These facilities require large amounts of uninterrupted power to operate.
To pursue its Malaysia expansion, MGEN is seeking a local partner, according to Mr. Rubio.
MGEN and its subsidiaries have a total net sellable capacity of over 5,000 MW from coal, liquefied natural gas, diesel, and solar facilities.
Outside the Philippines, MGEN holds investments in Singapore-based PacificLight Power (PLP), which recently completed a 100-MW fast start ancillary services facility.
PLP is also preparing to construct a 670-MW hydrogen combined cycle gas turbine plant, targeted for completion by January 2029.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
