MANILA, Philippines - The Manila Electric Co. (Meralco) is planning to put up a total of 300-megawatt (MW) capacity of hydroelectric power in Luzon in the near term, a ranking company official said.
Meralco chief operating officer Oscar Reyes said this will form part of the second wave of the power generation projects that the company intends to put up after it completed its 600-MW coal-fired facility in Subic.
Based on initial studies, Reyes said they are looking at 150 to 300-MW impounding hydro projects anywhere within the Luzon area.
Aside from the hydro power projects, Reyes said they are also eyeing another 600-MW coal facility or a liquefied natural gas (LNG) power plant.
The company, he said, is currently conducting studies on these new proposed facilities and they hope to put them in place in 2016 to 2017.
The company earlier established Meralco PowerGen in its bid to reduce its rates and secure its electricity supply.
Under current regulations, distributors like Meralco can source electricity from its own power plants provided they do not exceed more than half of their total requirements.
Meralco PowerGen’s first project is a 600-megawatt coal plant in Subic, which is projected to commence commercial operations in 2014.
Earlier, Reyes said Meralco Power Gen may raise P20 billion to support its power generation ventures.