Representatives from Vietnamese energy firm VinEnergo, the Philippines’ Manila Electric Company (Meralco) and its power generation arm Meralco PowerGen Corporation sign a memorandum of understanding to boost clean energy supply in the Philippines, June 23, 2026.
Under the deal, VinEnergo and MGEN will jointly study large-scale clean energy projects integrated with energy storage systems in a bid to supply up to five gigawatts (GW) of baseload power to the Philippine electricity network.
The electricity generated under the proposed projects will be sold to Meralco and other distribution and retail electricity providers.
To maintain a stable 5GW power supply, the partners may need to develop around 25GW of wind and solar generation capacity combined with battery energy storage systems.
Beyond power generation, the three companies will also explore solutions related to energy security, grid balancing, and the deployment of emerging technologies.
Their collaboration will extend to electric vehicle charging infrastructure for homes, commercial locations, and fleet operators.
VinEnergo CEO Nguyen Anh Khoa said the partnership is aimed at identifying solutions that can provide clean and reliable electricity to meet the Philippines’ rapidly growing energy demand.
MGEN president and chief executive officer Emmanuel V. Rubio said the company would assess how large-scale renewable energy generation can be effectively integrated with energy storage systems and supporting infrastructure while balancing reliability, affordability, and sustainability.
VinEnergo had previously cut a deal with the Philippines’ Department of Energy on clean energy development.
Earlier in 2026, the firm announced a series of agreements with local partners to study renewable energy projects totaling 4.8GW across the country’s three major regions, including Luzon, Visayas, and Mindanao.
The new partnership with Meralco and MGEN is expected to provide VinEnergo with a shift from individual project development toward the development of a renewable energy network capable of ensuring a stable power supply.
Founded in March 2025, VinEnergo operates in wind power, solar energy, battery energy storage systems, and integrated energy solutions.
Green SM enters Kazakh market
On the same day, Vietnamese electric ride-hailing company Green SM launched its services in Almaty, Kazakhstan, marking its sixth market after Vietnam, Laos, Indonesia, the Philippines, and India.
The move also represents the company’s first expansion into Central Asia.
Green SM is set to deploy VinFast VF 6 Eco electric vehicles during the initial phase.
Customers can book rides through the Green SM mobile application available on Apple’s App Store and Google Play.
Green SM also signed cooperation agreements with five local partners operating in transportation, tourism, technology, and services through Green Alliance Frontier, a platform designed to connect businesses pursuing sustainable development goals.
Nguyen Quoc Tuan, global CEO of Green SM, said that Kazakhstan is viewed as a long-term strategic market.
The company plans to work closely with local partners to develop transportation services tailored to local mobility needs.
