Geline Salac

Article (news)

NGCP

David Dizon

ABS-CBN News

Why did the state-run Maharlika Investment Corporation (MIC) secure a 20 percent stake in the National Grid Corporation of the Philippines (NGCP)?Speaking to TeleRadyo Serbisyo, Energy Undersecretary Sharon Garin said the Philippine government has no participation in the nation’s critical power infrastructure after Congress granted a 25-year franchise to NGCP to operate the transmission system.“This is one of the reasons why we created Maharlika, to invest in the national grid. Part na ngayon ang gobyerno sa mangyayari sa ating național grid. 20 percent lang pero better than zero. May nagbabatnay na na-representante ng gobyerno,&quot; she said.<div><a href="https://www.abs-cbn.com/news/business/2024/12/26/solon-wants-gov-t-to-take-over-control-of-ngcp-1807">Solon wants gov&#x27;t to take over control of NGCP</a></div>Under the agreement, Synergy Grid and Development Philippines Inc. (SGP) has accepted a binding offer from the Philippines&#x27; first sovereign wealth fund for a 20 percent stake for a slice of the country&#x27;s power grid operator.<div><a href="https://www.abs-cbn.com/news/business/2025/1/27/maharlika-fund-investing-in-ngcp-malaca-ang-1729">Maharlika Investment Corp getting 20 pct stake in NGCP</a></div>Synergy Grid holds a 40.2 percent effective ownership interest in NGCP. MIC president and chief executive officer Rafael Consing said the deal would grant MIC two board seats each at SGP and NGCP.He added Maharlika’s flagship investment would safeguard the nation&#x27;s power supply from external threats and disruptions.House Speaker Martin Romualdez first floated the idea of the MIC investing in the country&#x27;s power grid operator after a massive blackout hit Panay island early last year. Energy Secretary Raphael Lotilla previously blamed the NGCP for the power disruption on the island, with President Ferdinand Marcos Jr. saying that &quot;accountability lies&quot; with the grid operator.In recent years, Congress has moved to review NGCP’s franchise citing its allegedly questionable partnership with a Chinese energy firm.Garin denied that Synergy Grid was forced to accept the Maharlika offer.“Hindi naman nagkapilitan. Since last year they have been talking. Ngayon lang na finalize ang detalye,” she said. “Marami din tayo problema sa grid kaya kailangan din ng bantay.”She earlier said NGCP has several violations of its franchise including delays in several projects that affect the country&#x27;s energy plan.

Why did the state-run Maharlika Investment Corporation (MIC) secure a 20 percent stake in the National Grid Corporation of the Philippines (NGCP)?

Why did the state-run Maharlika Investment Corporation (MIC) secure a 20 percent stake in the National Grid Corporation of the Philippines (NGCP)?

'May nagbabantay': Why the Maharlika Fund is investing in NGCP

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Sudoku

Word of the Day

Lotto

Horoscope

Business

'May nagbabantay': Why the Maharlika Fund is investing in NGCP

David Dizon,

ABS-CBN News

Published January 28, 2025 08:57 AM PHT

Read More:

ngcp

maharlika fund

wealth fund

synergy grid

sharon garin

department of energy

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

Sign Up

I have read and agree to the Terms and Privacy Policy.

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.