Manila: Manila Electric Company announced Tuesday that it signed a memorandum of understanding (MOU) with Korea Electric Power Corporation (KEPCO) to drive innovation in the Philippine energy sector.

According to Philippines News Agency, the MOU aims to deepen technical cooperation and exchange programs between the Filipino and Korean power firms in the fields of nuclear energy, renewable energy, smart grids, micro grids, energy storage systems, electric vehicles, advanced metering infrastructure, smart substations, and distribution automation.

Both companies will also work on skill development through training programs and employee exchanges. They will explore partnerships in consulting, advisory services, and other energy projects of mutual interest.

"This memorandum of understanding marks an important step for both KEPCO and Meralco. Enshrined here is a commitment to exchange knowledge, strengthen capabilities, and work together toward a smarter, more resilient energy future," Meralco chairman and chief executive officer Manuel Pangilinan said.

In November 2024, Meralco and KEPCO also had an MOU for Knowledge Data Network to advance the use of smart metering in the country.

"We're looking forward to work together with KEPCO. This collaboration allows us to refine our strategies, integrate new technologies, and find better ways to power the future. Beyond the business objectives, we want to forge and strengthen relationships that will drive meaningful progress," he added.

Meralco added that its partnership with KEPCO will help the company to deliver 24/7 power services to over 8 million customers.