MGEN’s earnings hit nearly $255m in 9M

The company now accounts for 37% in One Meralco Group’s total net earnings.

Meralco PowerGen Corporation (MGEN) has reported a consolidated core net income of $249.9m (PHP 14.7b) in the first nine months (9M) of 2025, a jump from $153.731m (PHP 9.043b) in the same period last year.

According to the company, it posted a 63% increase in contribution to the One Meralco Group’s Consolidated Core Net Income (CCNI) for 9M. Its share to the group’s CCNI has also reached 37%.

“Backed by a diversified portfolio across the Philippines and Singapore, MGEN achieved a net saleable capacity of 5,079 megawatts year-to-date and delivered 20,226 gigawatt-hours of energy—a 75% surge from the same period last year,” the company said.

MGEN recently announced the appointment of Felino Bernardo as President and CEO of MGEN Thermal, and Arnel Santos as SVP, chief operations officer.

Its unit Toledo Energy Development Corporation has also partnered with Contemporary Amperex Technology Co., Limited and SUMEC Complete Equipment and Engineering Co., Ltd. for the development of a battery energy storage system in Toledo, Cebu.

MGEN’s Singapore-based subsidiary PacificLight Power Pte. Ltd. also announced the selection of Mitsubishi Power and Jurong Engineering Limited as the engineering, procurement, and construction contractor for its combined cycle gas turbine facility in the city-state.

In the MTerra Solar project, MGEN stated that its Phase 1 is 65% complete as of 15 October.

PHP1 = $0.017