Maharlika to fund Mindoro grid upgrades as strategic investor

THE Maharlika Investment Corp. (MIC) said it formalized a deal with major energy agencies to rehabilitate and modernize Mindoro Island’s power grid, under which it will take the role of strategic investor.

In a statement on Monday, the MIC said its partners in the deal are the National Power Corp., National Transmission Corp., and the National Electrification Administration.

“The cooperation agreement formalizes more than a year of interagency coordination and technical collaboration among the participating government institutions to address the longstanding structural challenges of the Mindoro Small Grid,” it said.

“The parties have been working together to evaluate operational requirements, investment pathways, technical priorities, and institutional coordination mechanisms necessary to support the project’s implementation,” it added. — Justine Irish D. Tabile