Meralco PowerGen Corporation (MGEN) and Korea Electric Power Corporation (KEPCO) finalized their partnership in the 63.3 MW Calatagan Solar Farm in Batangas through a Deed of Accession and Amendment signed on September 11, 2025. The agreement transferred the stake of Solar Philippines Power Project Holdings, Inc. to MGEN subsidiary SP New Energy Corporation (SPNEC), making SPNEC a joint shareholder with KEPCO. The Calatagan Solar Farm is one of the largest operational solar facilities in Batangas. According to KEPCO President Jeon Yongsu, the agreement has reflected the trust and cooperation established between both companies. Earlier in February 2025, MGEN and KEPCO signed a memorandum of understanding covering cooperation in nuclear, renewable energy, smart grids, energy storage, and electric vehicles. Both companies have also confirmed plans to explore further projects in wind and energy storage to expand renewable capacity in the Philippines.