Manuel V. Pangilinan, a director of MERALCO and most importantly heads Metro Pacific Investments Corp. (MPIC) and telecoms giant PLDT said that he had encouraged MERALCO to look into clean energy power generation so as to improve its bottom line along with providing a full spectrum of energy to consumers.
MPIC and sister firm Pilipino Telephone Corp owns a large block of MERALCO (28.2%) shares which it had acquired through the Lopez group. MERALCO could be considered a crown jewel of the Lopez family that had been owned by them for the longest but until recently has been embroiled in an ownership issue with San Miguel Corp and the Government of Gloria Macapagal-Arroyo.
An interesting article can be found here that details the reason for the hostility of the present government of Gloria Macapagal-Arroyo that goes all the way back to the time of their parents. True or not, it does add color to the energy sector of the Philippines.
[source]
Category: Misc, Clean Energy
