The 12-year loan will fund key investments and support the company’s general corporate needs, the electricity distribution giant said in a stock exchange filing on Tuesday.
Meralco is also expected to increase its 2025 capital spending, driven by a robust economic outlook, according to chairman and CEO Manuel V. Pangilinan.
In a report by the Philippine Star, Pangilinan said part of their expansion will focus on the $4-billion Terra Solar project in Central Luzon, which is poised to become the world’s largest solar facility. Additionally, a significant portion of the budget will support investments in liquefied natural gas.