MERALCO PowerGen Corp. (MGen), the power generation investment arm of Manila Electric Co. (Meralco), has appointed Emmanuel 鈥淢anny鈥 V. Rubio as its president and chief executive officer (CEO), effective July 1.
Mr. Rubio, formerly president and CEO of Aboitiz Power Corp. (AboitizPower), is expected to bring 鈥渁 wealth of experience and expertise to MGen,鈥 the company said in a statement on Sunday.
鈥淩ubio鈥檚 career in the power industry is distinguished by a proven track record of exceptional leadership and success through the various executive positions he held in AboitizPower and its subsidiaries over the past years,鈥 MGen said.
The company said Mr. Rubio is expected to oversee 鈥渢he success of the company鈥檚 plans and strategies that are well aligned with the government鈥檚 pursuit to achieve energy security and global sustainability goals.鈥
鈥淢anny Rubio will play a very important role as MGen actively pursues growth prospects that will bring long-term value not just to the company, but also to the projects鈥 host communities and our country,鈥 Meralco Chairman and CEO Manuel V. Pangilinan said.
鈥淲e are excited to have him on board as we look forward聽for his fresh perspectives and innovative ideas that will steer the power generation company towards becoming a reliable partner of the government in achieving inclusive and sustainable economic growth,鈥 he added.
Mr. Rubio succeeds Jaime T. Azurin as member of MGen Board of Directors, which is also chaired by Mr. Pangilinan. Mr. Azurin will remain as president of Global Business Power Corp., a wholly owned subsidiary of MGen.
The company said his leadership will help achieve its goal to expand its presence in the renewable energy space with additional 1,500-megawatt (MW) capacity. It will also help the company realize its significant investments including the planned integrated liquefied natural gas (LNG) facility that is currently in the pipeline.
In March, MGen and Therma NatGas Power, Inc., the wholly owned subsidiary of AboitizPower through Therma Power, Inc., formed a joint venture company to pursue their investment in two gas power plants of San Miguel Global Power Holdings Corp. (SMGP).
The two companies signed an investment agreement to acquire equity interest in Chromite Gas Holdings, which will invest in the 1,278-MW Ilijan power plant and a new 1,320-MW combined cycle power facility that is currently under construction.
Together with SMGP, the joint venture company will also invest in LNG import and regasification terminal owned by Linseed Field Corp., a unit of Atlantic Gulf & Pacific Co.
Meralco鈥檚 controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in 大象传媒 through the Philippine Star Group, which it controls. 鈥 Sheldeen Joy Talavera
