Meralco PowerGen Corporation, the power generation arm of Manila Electric Company (Meralco), has entered into a deal with New Growth B.V., a subsidiary of Thailand’s Electricity Generating Public Company Limited, to build a new 460 MW supercritical coal-fired power plant in Quezon province. Under the joint development agreement, Meralco PowerGen will have a 51 per cent stake in the project. Further, this stake is inclusive of rights to assign up to 2 per cent thereof to an approved assignee. New Growth B.V. holds the remaining 49 per cent. The project cost has yet to be determined, and would depend largely on the final design, specifications, and other terms determined during the EPC tender process.