August 17 (Renewables Now) - Philippine electricity distributor Manila Electric Company (PSE:MER), better known as Meralco, said today it has launched a competitive selection process for third-party bids challenging an existing 24/7 power supply proposal from a Solar Philippines unit.
As previously announced, Solar Philippines Batangas Baseload Corp (SPBBC) earned an Original Proponent Status (OPS) for its offer to supply 200 MW of baseload power to Meralco from a 1.8-GW solar project and 1.8 GWh of battery storage capacity currently under development, and possibly more plants. More specifically, the Solar Philippines unit has agreed to deliver electricity at a fixed price of PHP 4.65 (USD 0.083/EUR 0.082) per kWh over a period of 20 years. The power supply should start in 2024.
Interested parties can challenge the current offer by submitting their expressions of interest (EOIs) by the end of the month. A pre-bid conference is scheduled for September 1, while the deadline for submitting bids is set for October 5.
Meanwhile, Meralco is holding a similar competitive process in relation to Ahunan Power’s proposal to meet a 500-MW mid-merit requirement from renewable energy starting 2026 and is holding talks for another mid-merit offer from Terra Solar for 850 MW of renewables, according to the announcement. As a whole, Meralco is looking to source up to 1.5 GW of renewables.
On the same day, Solar Philippines’ listed unit Solar Philippines Nueva Ecija Corporation (PSE:SPNEC) unveiled its intention to secure land for a new 3.5-GW solar farm in the provinces of Nueva Ecija and Bulacan.
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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.
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