Commission Decision No. 19-M-016/2019:
In the Matter of the Proposed Joint Venture Between the Bases Conversion and Development Authority
and Meralco-Marubeni Consortium for the Smart Distribution Electricity Infrastructure in New Clark City

ABSTRACT:

The proposed transaction involves the incorporation of a joint venture company arising from the partnership between Bases Conversion and Development Authority (BCDA) and the Manila Electric Company (Meralco)-Marubeni Consortium to build and operate a smart distribution electricity infrastructure in New Clark City for an initial period of 25 years.

The consortium will have 90% equity stake in the joint venture company, with BCDA holding the remaining 10%.

BCDA is a government-owned and controlled corporation that engages in public-private partnerships to develop public infrastructure such as tollways, airports, seaports, and major real estate developments.

The Meralco-Marubeni Consortium is comprised of Meralco, Japanese conglomerate Marubeni Corporation, and power distributors Kansai Electric Power Co., Inc. and Chubu Electric Power Co.