Meralco genco adding 350 MW to renewable energy portfolio

MANILA, Philippines — The power unit of Manila Electric Co. (Meralco) is adding 350 megawatts (MW) of renewable energy capacity starting 2020 as part of growing the group’s power generation portfolio, company officials said.

Meralco Powergen Corp. (MGen) president and CEO Rogelio Singson said discussions are ongoing with a number of existing project developers for potential partnerships, noting there is currently a total of close to 350 MW of renewable energy projects in the pipeline.

“In terms of our commitment, of the group to expand our renewable energy projects, we are lining up in the immediate future. As early as 2020 about 350MW of renewable energy projects that we are almost near completion,” Singson said.

“Unfortunately, we are covered by non-disclosure agreement so we can’t disclose until we sign agreements with them,” he said.

On the technology, Singson the deals cover solar, wind and microgrid projects.

Of the 350-MW capacity, one or two power project deals should be closed within the year, Meralco president and CEO Ray Espinosa said.

“I think there should be, one or two maybe this year,” he said.

Earlier, Meralco announced its plan to build 1,000 MW of renewable energy projects in the next five to seven years in its bid for cleaner and more cost-competitive power supply in its franchise area.

This will be done through MGen’s newly formed subsidiary, MGen Renewable Energy Inc. (MGreen), which will serve as the platform for the strategic push to develop renewable projects, primarily solar, wind and run-of-river hydro.

Singson said MGen has directed its focus on being a major player in the highly competitive renewable energy space as it currently awaits the commercial operations of its supercritical coal-fired power plant.

He was referring to the 455-MW San Buenaventura Power Limited Co. (SBPL) power plant in Mauban, Quezon, which is on track for project completion in September.

“The synchronization of our 455 MW San Buenaventura supercritical coal-fired plant to the grid was ahead of our schedule with full commissioning on target for September,” Singson said.