Meralco’s RE arm Spectrum to add 20 MW to portfolio in 2020

By Lenie Lectura - January 29, 2020

https://businessmirror.com.ph/2020/01/29/meralcos-re-arm-spectrum-to-add-20-mw-to-portfolio-in-2020/

THE renewable-energy (RE) subsidiary of Manila Electric Co. (Meralco), Spectrum, is eyeing to add 20 megawatts (MW) to its portfolio this year, on the back of a strong demand for electricity.

Spectrum has sealed various contracts totaling “close to 20 MW,” according to Meralco First Vice President and Head of Customer Retail Services and Corporate Communications Victor Genuino.

“We are going to aim to double that. We will add an additional 20 MW this year,” he said on the sidelines of the inauguration of City of Dreams’ (CoD) 1.2-MW solar-power facility early this week.

“It’s going to be a hot summer so it’s good for the people to take advantage of solar.  If this hot temperature will persist, it will be a good year,” added Genuino.

The new contracts being eyed by Spectrum this year will come from the residential and commercial sectors. “It will be a combination of residential and commercial. This is the unregulated side business of Meralco so [Spectrum] can go nationwide,” he said.

Included in the additional 20 MW is the installation of “less than 1 MW each” in Isla Verde and Cagbalete Islands. “Spectrum is doing projects for both Isla Verde and Cagbalete Islands no later than this year.”

Spectrum recently provided a P76-million solar-power project for CoD Manila, the country’s first integrated resort to harness solar energy.

There are 3,120 solar PV panels installed on a 6,436-square meter area across two buildings of CoD. The solar project can generate power of up to 1,730 megawatt hour (MWh) annually, equivalent to 923,820 kilogram of carbon footprint reduction, which is enough to power almost 1,000 households every year.

CoD Manila Senior Vice President and Chief Operating Officer Kevin Benning said the solar panels could power up 20 percent of its total consumption, which is estimated at about 7 MW.

Investment can be recovered in seven years, he said.

“This venture is a significant step in our vision to be sustainable in our operations. Utilizing clean and renewable energy is only one of our numerous green initiatives, and we hope that as we set the bar for sustainable operations, we also inspire positive change as we all take part in the growing movement toward a more sustainable future,” Benning said.

CoD Manila is also considering Spectrum to provide more solar panels for the luxury integrated casino resort.

“It’s already under review. We are currently evaluating our roof-deck where we can build additional panels. It will be done this year with our evaluation,” added Benning.

Genuino said the 1.2-MW solar project is the single largest installation in a commercial rooftop of Spectrum. “Why did Meralco, a company whose core business comes from the distribution of electricity, set up a subsidiary that effectively reduces consumption? Isn’t this counterintuitive?

“The simple answer is because you, our customers, demanded it. Our customers are evolving. They are becoming more conscious of their impact to diminishing resources—and they want to do something about it,” he said.