One Meralco Group plans to invest up to P5 billion in solar projects this year as the group expands its renewable energy portfolio, an official said Monday.
“For the One Meralco group power generation, we are looking at around (P4 billion to P5 billion) as far as solar projects are concerned. For thermal plants, we have not yet decided for 2022,” Meralco PowerGen Corp. and Global Business Power Corp. president Jaime Azurin said.
Azurin said Meralco’s power generation group led by Meralco PowerGen Corp. plans to increase its RE generation in the coming years.
“Solar battery storage and wind 75-MW solar in Baras, Rizal, which is expected to commence operations in Q3 this year. The 68-MW solar in Ilocos Norte is expected to commence (operations) by Q1 2023. The 45-MW Cordon, Isabela, EPC (negotiations) are already in progress You can expect more RE projects in the coming years as we endeavor to provide cleaner and sustainable energy supply to the market,” Azurin said.
