Meralco, Blue Energy to develop small hydro in Philippines

Filipino utility Manila Electric Co. and Blue Energy Holdings & Management Corp. have established a joint venture for the purpose of developing small hydroelectric projects in the Philippines.

According to a notice filed with the Philippines stock exchange this week, Manila Electric (Meralco) and Blue Energy have signed a shareholders’ agreement worth about US$644,000 that will see Blue Energy take a one-share majority ownership of the joint venture.

The companies have not specified what proposals, if any, are already in development under terms of the agreement, but does say they partners will “pursue and undertake the development of various hydroelectric power projects.”

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