Power distributor Manila Electric Co. (Meralco), through its power generation arm Meralco PowerGen Corp. (MGen), is spending $1.2 billion as its equity portion in the development of three power projects in Luzon.

Meralco Chief Financial Officer Betty Siy-Yap said they are upbeat with these three power projects, two of which are located in Quezon Province and the third in Zambales.

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