Danessa Rivera (The Philippine Star)
- July 31, 2019 - 12:00am
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.
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