Years after taking control of Manila Electric Co., tycoon Manuel V. Pangilinan sees the potential value of adding another Lopez family crown jewel to his growing energy empire, according to a report by Philstar Biz.
Pangilinan, who chairs both Meralco and its power generation subsidiary Meralco PowerGen Corp. (MGEN), indicated that Energy Development Corp. (EDC) could be a good fit for MGEN's portfolio. EDC, the country's largest geothermal energy producer, is currently controlled by the Lopez family.
The potential acquisition would further expand MGEN's renewable energy capacity and align with the government's push for cleaner energy sources. No formal offer has been made yet, but Pangilinan's statement signals interest in consolidating power generation assets.