rom brewing beer to burning coal, the Philippines’ food and beer giant — San Miguel Corporation (SMC) of tycoon Ramon Ang — is now one of the country’s largest power producers. Its energy arm, San Miguel Global Power, is a younger player in the industry. But, flush with cash, it aggressively built, acquired, and expanded power plants over the last two decades. At the end of 2024, San Miguel claimed sector dominance with installed generation capacity of 6,079.6 megawatts (MW), the country’s largest.
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