Meralco boosts budget for world's largest solar project in Luzon

Manila Electric Co. (Meralco) plans to increase its budget for 2025, driven by the construction of the world's largest solar project in Luzon. The project will feature 3,500 megawatts of solar panels and 4,000 megawatt-hours of battery storage. Meralco has allocated P40 billion for this year and plans to spend P25 billion on power distribution operations next year, slightly up from P24 billion in 2024. The focus will be on improving grid resilience due to recent storms. Meralco's core net income grew 17% to P35.1 billion in the first nine months of this year. The distribution business remains the largest contributor, making up 59% of the total income.