San Miguel Corp. and ACEN Corp.’s power units expressed interested in joining the competitive selection process (CSP) for Manila Electric Co.’s 500-megawatt mid-merit renewable energy (RE) capacity.
Meralco vice president and head of utility economics Lawrence Fernandez said the company held the pre-bid conference for the 500-MW mid-merit requirement on Friday.
“Representatives from all interested bidders, namely, Gigasol3, San Roque Hydro Power and Santa Cruz Solar we’re in attendance,” Fernandez said.
Gigasol 3 is a 63-megawatt solar plant in Palauig, Zambales, while Santa Cruz Solar Energy is developing a 283-MW solar farm in San Marcelino, Zambales. Both solar plants are controlled by ACEN of Ayala Group.
Meanwhile, San Miguel Corp.’s San Roque Hydro Power Corp. owns the 435-MW hydro facility in Pangasinan.
Meralco earlier said the 10-year power supply agreement (PSA) resulting from the CSP would cover Meralco’s 350-MW mid-merit requirement starting February 2025, which would increase by 150 MW beginning February 2026.
Meralco’ s BAC set the bid submission deadline on July 17.
The conduct of the CSP complies with the Department of Energy’s (DOE) policy on renewable portfolio standards (RPS) and forms part of the company’s commitment to source an increasing portion of its supply requirements from RE sources.
RPS is a policy mechanism that requires electric power industry participants such as generators, distribution utilities and suppliers to source or produce a specified fraction of their electricity from eligible RE resources.
