Meralco PowerGen Corp. expressed hope that its planned 1,200-megawatt ultra-supercritical power plant in Quezon province would secure a contract with parent company Manila Electric Co.
Atimonan One Energy Inc., a subsidiary of Meralco PowerGen, is developing the project. Meralco PowerGen is the power generation arm of Meralco.
“We are currently preparing. There will be a bidding hopefully by Meralco by the first quarter. We plan to build that project, and hopefully, we will be able to secure a contract to proceed with the project,” Meralco PowerGen president and chief executive Jaime Azurin said.
The company wanted to secure a power supply agreement before proceeding with project construction. Company executives earlier said the project was not covered by the coal ban imposed under the term of former Energy Secretary Alfonso Cusi.
The company said the moratorium would not affect the Atimonan project as it secured the Department of Energy’s approval as a committed coal project. It was also certified as an energy project of national significance and secured an environmental compliance certificate and connection agreement from the National Grid Corp. of the Philippines.