The power generation arm of Manila Electric Co. (Meralco) has earmarked P1 billion this year to develop its planned coal-fired power plant in Toledo, Cebu, as the project takes priority in the company’s capital spending program.
Emmanuel Rubio, president and chief executive officer of Meralco PowerGen Corp. (MGen), said most of the company’s capital expenditure for 2026 will be directed to the Toledo project, which is expected to break ground within the first quarter of this year.
“Most of the capex would be for Toledo, which we expect to break ground by the first quarter of this year,” Rubio said.
