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Meralco PowerGen Corp. (MGEN) is on the lookout for upcoming green energy auctions (GEAs) of the government, as securing a contract or contracts gives developers the confidence to invest more in the renewables market.
Dennis Jordan, president and CEO of MGEN Renewable Energy Inc., told reporters the firm continues to monitor the developments in the Department of Energy’s (DOE) GEA program. This is an initiative meant to speed up the deployment of clean power assets across the country.
READ: Meralco PowerGen closes P150-B loan for Terra Solar project
“Because, of course, those auctions actually underpin or basically underwrite your investment if the prices are accessible to justifying the investment,” he said on the sidelines of the Economic Journalists Association of the Philippines’ energy forum last week.
