Meralco PowerGen Corp. (MGen), Manila Electric Co.’s power generation arm, expects to complete 1,500-megawatt renewable energy (RE) projects by 2030, an executive said over the weekend.
MGen earlier said it would accelerate its RE buildout to develop greener generating capacities to power the country with sustainable energy.
“Our target is 1,500 MW [RE] by 2030, but it can be earlier. It depends when it will be completed because the pipeline is big. [That’s] 1,500 MW RE delivered,” MGen chief operating officer Dominador Camu Jr. said.
MGen committed to invest at least P18 billion for the RE buildout which would cover capacities from clean technologies such as solar and wind.
“We have a lot in our pipeline that will meet at least 1,500 MW. It [completion] can be earlier [but] it depends when the project will be started,” Camu said.
MGen’s existing projects include the 55-MW solar project of BulacanSol in San Migiel, Bulacan; the 68-MW solar project of Nuevo Solar Energy Corp. in Currimao, Ilocos Norte; and the 75 MW solar project of PH Renewables Inc. in Baras, Rizal.
MGen and Solar Philippines are also developing 3,500 MW of solar and 4,000 MWh of battery storage in Luzon.
Meanwhile, Camu said they were planning to develop the proposed power plant of Atimonan One Energy, Inc. (AIE) into a gas-fired power facility.
“Atimonan originally for coal, we’re applying for environmental clearance to change it to gas…We have very exciting plans for generation because we have a lot of projects lined up,” he said.
AIE plans to put up a 2,400-MW natural gas-fired combined cycle gas turbine power plant and liquefied natural gas terminal with floating storage unit at a cost of P175 billion.
A1E previously proposed a 1,200-MW ultra-supercritical coal-fired power plant of high efficiency-low emission in the project site which did not push through amid the lack of power supply agreement and opposition from environmental groups.
The company decided to convert the coal plant into a cleaner option—a CCGT facility using natural gas as fuel, delivered via an LNG carrier and LNG terminal.