Manila Electric Co. (Meralco), the country’s largest power distributor, has formalized its deal with Thailand’s largest power producer through a signed joint development agreement for the establishment of 460-megawatt (MW) coal-fired power facility in Quezon province.

A disclosure to the Philippine Stock Exchange on Friday showed that Meralco PowerGen Corp. (MGen), a wholly owned subsidiary of Meralco, and New Growth BV, a unit of EGCO Group of Thailand, have signed a joint development agreement (JDA) for the new 460-megawatt supercritical coal-fired power plant project in Mauban, Quezon.

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