Published
By Myrna M. Velasco
Power utility giant
Manila Electric Company (Meralco) has sealed a power supply deal for
85-megawatt capacity at P2.9999 per kilowatt-hour (kwh), one that shall be
setting a benchmark for low cost solar development in the country especially in
the post-feed in tariff (FIT) era.
The power supply agreement
(PSA) had been inked with Solar Philippines Tarlac Corporation (SPTC) for a
facility to be sited in the Concepcion town of that host-province, one of the
next phases of development being advanced by young businessman Leandro L.
Leviste.
“This rate is significantly
lower than the prevailing solar feed-in-tariff rates and a welcome development
for consumers,” Meralco has noted.
As stipulated in the
supply pact, the utility firm’s capacity procurement from the solar facility
could be from 75 MW to 85 MW in the initial 2-5 contract years; and full 85 MW
form the 6th to 20th year of the PSA.
The utility firm
indicated the PSA shall be rendered effective upon the approval of the Energy
Regulatory Commission. Corresponding filings would be made following the signing
of the supply agreement.
“Both parties are
committed to file the ERC application of the PSA on or before October 20, 2017
and secure the ERC’s issuance of a provisional authority, in time for an
implementation of the PSA by January 2018,” Meralco has noted in its disclosure
to the Philippine Stock Exchange.
Leviste previously told
media that the committed capacity to Meralco would be part of the 175 MW
developments that will be taking off from their project blueprints onward to
full implementation phases.
The company said it is
now constructing two projects, including a 50MW solar photovoltaic-underpinned
facility sited in Tanauan, Batangas.
Leviste sounded off
that the sooner the ERC grants approval to their PSA applications, including
those that are still pending at the Commission, it will come off better for the
consumers who will then be enjoying lower cost electricity.
This is already the
second supply deal that Solar Philippines had secured with Meralco, the first
one was for 50MW capacity.
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