The Manila Electric Company (Meralco) reveals its plans of stocking up their RE capacity installations, with a total of 350 MW.
“In terms of the commitment of the group to expand our renewable energy projects, we’re lining up in the immediate future which is as early as 2021, 350MW of RE projects that we are almost near conclusion,” Meralco PowerGen (MGen) President Rogelio L. Singson was quoted in a Manila Bulletin report.
Targeted partners weren’t revealed as they are covered by non-disclosure agreements.
Singson further revealed that agreements with partners and final investment decisions (FID) must be completed this year.
The capacity installations will be more on solar installations and microgrid ventures, Singson told Manila Bulletin reporters.
Around 500 to 600 MW of RE capacity is needed in the company’s supply portfolio to follow the requirements under the Renewable Portfolio Standards (RPS).
Finalizations of the project and developments are seen to happen between this year to 2020, particularly for solar farm installations.
Singson explained that these RE capacity additions should supported by the reinforcements in the country’s transmission system.