Nueva Ecija, Philippines – 14 July 2026 — Meralco PowerGen Corporation (MGEN), together with its partners, today inaugurated MTerra Solar Phase 1, marking the completion of the first phase of what is set to become the world’s largest integrated solar photovoltaic (PV) and battery energy storage system (BESS).

The milestone underscores the Philippines’ growing leadership in large-scale renewable energy development while reinforcing the country’s path toward a more secure, affordable, and sustainable energy future.

During the inauguration, President Ferdinand R. Marcos Jr. emphasized the country’s ability to execute renewable energy projects of significant scale: “the MTerra Solar project is proof that the Philippines is capable not only of envisioning, but also of delivering.”

MGEN Chairman Manuel V. Pangilinan shared his vision for a future where clean, reliable energy is within reach of every Filipino. “What we inaugurate today will be the world’s largest integrated solar and battery storage facility located in a single site. And it rises not in Texas, not in the Gobi Desert, but right here in Gapan, Nueva Ecija. This inauguration today was made possible not only by Meralco but by many other hands, other minds, and many hearts,” Chairman Manuel V. Pangilinan exclaimed.

MTerra Solar Phase 1 has successfully energized 1,373 MW of solar PV capacity and 825 MW of battery energy storage, equivalent to 3,300 MWh, making it the largest operational integrated solar and battery facility on a single site globally. At present, its maximum export capacity to the Luzon grid remains at 750 MW pending completion of various works done in collaboration with the grid operator. The project has also fully energized all 741 battery units, enabling it to reliably deliver clean electricity to the Luzon grid.

Following the successful completion of required grid tests, the MTerra Solar facility is now ready to fulfill its 600-megawatt mid-merit Power Supply Agreement (PSA) with Meralco, providing customers with a dependable source of clean energy. As of end-June 2026, more than 2,000 MWdc of solar panels have already been installed under Phase 1, while the project has safely logged over 30 million work hours without a lost-time injury.

“MGEN has always believed that the energy transition must deliver not only cleaner power, but also reliable and affordable electricity for Filipinos. MTerra Solar demonstrates what is possible when vision, innovation, and collaboration come together. Beyond building one of the world’s most significant renewable energy facilities, we are helping build a stronger and more resilient Philippine energy system capable of supporting the country’s long-term economic growth,” said Emmanuel V. Rubio, President and CEO of MGEN.

A Global First, Built by Filipinos for the Philippines

Reflecting the inauguration event’s theme, “Araw ng Pilipino,” MTerra Solar stands as a proud symbol of what the Philippines can achieve through Filipino ingenuity, collaboration, and a shared commitment to nation-building. More than a milestone for MGEN, MTerra Solar is a milestone for the Philippines.

MTerra Solar, as the world’s largest integrated solar photovoltaic and battery energy storage facility developed on a single site, showcases the country’s ability to deliver infrastructure of global significance through the collective efforts of government, the private sector, host communities, and thousands of Filipino workers. Beyond setting a new global benchmark in renewable energy, MTerra Solar reflects the ingenuity, determination, and collaboration of Filipinos in building a more secure, affordable, and sustainable energy future.

Recognizing the project’s significance to the Philippines’ energy future, Lucy Heintz, Partner and Head of Energy Infrastructure at Actis, said: “We are delighted to be working with the high quality MGEN team to energize 1,373 MW of domestic energy to the Philippines, reducing import dependence, improving resilience and accelerating energy security, while giving the government and industrial customers greater visibility over future power costs. It’s fantastic to see the Philippines leading the world in delivering such a solution.”

Powering Energy Sufficiency Through Affordable Renewable Energy

As electricity demand continues to grow, MTerra Solar plays a vital role in strengthening the Philippines’ energy sufficiency by adding significant indigenous renewable energy capacity to the Luzon grid. As the lowest-cost mid-merit supply in Meralco’s energy supply mix, Phase 1 of the project will deliver 600 MW of dependable renewable energy, helping provide more affordable electricity to its customers, diversify its power supply portfolio, and reduce the country’s reliance on imported fuels.

With its integrated battery energy storage system, MTerra Solar can store solar energy generated during the day and dispatch it during periods of peak demand, providing reliable mid-merit power that enhances grid stability and energy security. The project supports the Philippine Energy Plan as one of the country’s largest energy infrastructure investments, and the government’s renewable energy targets of 35% by 2030 and 50% by 2040, while helping ensure sufficient, affordable, and reliable power to sustain the nation’s economic growth.

Creating Shared Value for Host Communities

“MTerra Solar is designed to create shared value. Beyond delivering clean and affordable energy, we have so far invested Php88.6 million in education, livelihood, public safety, and community development to ensure the benefits of this project create lasting opportunities for the people of Nueva Ecija and Bulacan,” shared Dennis B. Jordan, President and CEO of MGEN Renewables and Terra Solar Philippines Inc.

Beyond generating clean electricity, MTerra Solar continues to invest in the long-term development of its host communities. Since Phase 1 commenced, the project has benefitted more than 973,511 individual beneficiaries and 47 institutional beneficiaries.

Local residents have been equipped with technical skills for renewable energy construction and operations, with many graduates subsequently employed to support the project’s workforce. Road safety has likewise been enhanced through the installation of 260 solar-powered streetlights across host communities.

Sustainable livelihood opportunities were created by establishing rent-free marketplace spaces for local entrepreneurs, enabling them to serve thousands of workers during peak construction. Traffic management was also strengthened by training and equipping 214 community traffic marshals and establishing 17 marshal posts in strategic locations. Emergency preparedness further improved with the turnover of a fire truck and the construction of a fire substation in Gapan City, bringing faster emergency response capabilities to nearby communities.

As construction progresses toward the project’s full planned capacity, MTerra Solar will continue to serve as a cornerstone of the country’s energy transition, demonstrating that world-class renewable energy infrastructure can simultaneously strengthen energy security, improve affordability, create shared prosperity for communities, and power a better tomorrow for the Philippines.

To demonstrate that renewable energy development can complement rather than compete with agriculture, MTerra Solar also recently partnered with Central Luzon State University (CLSU) on pioneering agrivoltaics research. The studies will evaluate how crops can be successfully cultivated around and beneath solar panels, generating science-based recommendations that support farmer livelihoods, strengthen food security, and promote sustainable land use.

Pasig City, Philippines – 14 March 2026 – Meralco PowerGen Corporation (MGEN), through its affiliate Terra Solar Philippines Inc. (MTerra Solar), has successfully energized the MTerra Solar project as a generator – marking the moment the facility went live and began delivering electricity to the grid.

The milestone marks the first electron from MTerra Solar sent through to the Luzon grid, signaling that the facility is now live – just 16 months after its groundbreaking. This phase is set to supply up to 85-megawatts (MW) of mid-merit power to the grid, supporting energy demand during peak daytime hours and marking the initial delivery to Meralco.

Following its energization as a generator, the project will continue to ramp up its output in the coming months in close coordination with the National Grid Corporation of the Philippines (NGCP), in line with its System Impact Study (SIS) and operational plan.

“This is a defining moment for MTerra Solar. With the facility now operational, we have started a bigger journey – ramping up generation and steadily delivering capacity that strengthens energy security and advances the Philippines’ self-reliance. This milestone comes at a critical time as we continue to expand the country’s energy capacity,” said MGEN President and CEO Emmanuel V. Rubio.

“MTerra Solar exemplifies Filipino ingenuity and pride – built by Filipinos for the Filipinos. The project is now delivering reliable and clean energy which will power progress for industries and communities. We remain in close coordination with the NGCP to ensure that project is safely integrated into the grid,” said MTerra Solar President & CEO Dennis B. Jordan.

The energization of the project as a generator marks a significant step in strengthening the country’s energy security by adding domestic power capacity and supporting energy independence. Once fully completed, it is expected to generate 3,500 MWp of solar photovoltaic, complemented by a 4,500 MWhr battery energy storage system (BESS). The facility is projected to supply clean energy to approximately 2.4 million households while avoiding an estimated 4.3 million tons of carbon emissions annually – equivalent to taking more than 3 million gasoline-powered vehicles off the road.

With Phase 1 on track for completion this year and Phase 2 already under construction, MTerra Solar is expected to steadily increase its capacity – delivering clean and sustainable energy for Filipinos, while supporting the Philippines’ renewable energy targets of 35% by 2030 and 50% by 2040.

Terra Solar Philippines, Inc. (“TSPI”), a subsidiary of SP New Energy Corporation (the “Company”), executed on 23 October 2025, agreements in relation to the engineering, procurement, and construction works for the South Block of TSPI’s 3,500 MWp solar farm and 4,500 MWhr battery energy storage system in Central Luzon (the “MTerra Solar Project”). The agreements are as follows:

1. Engineer, Procure, and Construct (“EPC”) Contract (Onshore Contract), with GEDI Construction Development Corporation; and

2. EPC Contract (Offshore Contract), with China Energy International Group Co., Ltd. and China Energy Engineering Group Guangdong Electric Power Design Institute Co., Ltd. (the “EPC Contracts”).

The EPC Contracts cover warranty, defect resolution, and the implementation of operational and maintenance protocols to ensure long-term reliability and success of the MTerra Solar Project. The South Block accounts for 1,050 MWp solar farm and 1.2 GWh battery energy storage system of the MTerra Solar Project.