Manila: President Ferdinand R. Marcos Jr. has renewed his administration's commitment to supporting initiatives and projects aimed at boosting the power supply in the Philippines. Marcos met with business tycoon Manuel V. Pangilinan of MGen and ACWA Power founder and chairperson, Mohammad Abunayyan, at Malaca±an Palace in Manila on Thursday.

According to Philippines News Agency, Marcos highlighted the importance of ongoing investments in renewable energy (RE) through a Facebook post, emphasizing discussions with MGen and ACWA Power executives about their continued commitment to these projects. He highlighted the MTerra Solar facility as a crucial development needed to ensure clean, affordable, and reliable energy for every Filipino family. The government remains dedicated to backing projects that promote cleaner, more stable, and affordable energy for the nation.

MGen and ACWA Power have previously signed a strategic agreement on June 4 to explore and develop RE projects, particularly solar energy, in the Philippines and other Southeast Asian countries. MGen is the power investment arm of Manila Electric Co., while Saudi Arabia's ACWA Power is a leader in water desalination and green hydrogen.

The partnership aims to combine ACWA Power's global portfolio of 78.8 gigawatts with MGen's expertise in developing diverse energy assets totaling 4.95 gigawatts across the Philippines. This collaboration aligns with a shared goal of accelerating the construction of large-scale RE projects to further the Philippines' energy transition and promote sustainable development in Southeast Asia.