Philippines-based SMC Global Power Holdings in talks for renewables deal

But the firm has refused to disclose the potential partners' names.

San Miguel Corporation's energy arm, SMC Global Power Holdings, revealed that it is currently in talks with two Asian companies for a partnership as it looks to diversify its portfolio to renewable power.

SMC Global Power Holdings did not disclose the type of renewables project and who the potential partners are.

“It’s about time we find a balance between promoting clean energy and securing the country’s energy needs without making consumers bear the cost of a punishing subsidy for years in favor of RE producers,” Ramon Ang, SMC president and COO said in a statement.

SMC Global Power Holdings currently holds the top spot among IPPs as the largest firm by installed capacity at 2,903MW.