Meralco PowerGen and Aboitiz Power to acquire an integrated LNG facility in Batangas from San Miguel Global Power Holdings for $3.3bn.

Meralco PowerGen, a power plant consultant in Pasig, Philippines, and Aboitiz Power, an electric services company, agreed to acquire an integrated LNG facility in Batangas from San Miguel Global Power Holdings, a power generation company, for $3.3bn. "This is a pathbreaking venture. Apart from transforming the energy landscape of the Philippines, this symbolizes a milestone alliance among major players in the energy industry towards a more sustainable future. We are thrilled to have such reliable partners as we lay the foundation for a brighter, greener future," Manuel V. Pangilinan, MGen Chairman.