MERALCO PowerGen Corporation’s subsidiary, SP New Energy Corporation (SPNEC), has requested the termination of its contract for the 280-megawatt solar project in Nueva Ecija.
In a disclosure to the Philippine Stock Exchange, SPNEC’s board approved the ratification of the termination request for the Sta. Rosa project, which was awarded under the Green Energy Auction Program 1 (GEA-1).
SPNEC cited force majeure as the reason for the termination request, particularly citing transmission constraints ‘beyond its control.’
Solar Philippines Nueva Ecija Corporation, an SPNEC subsidiary, first proposed to construct the Sta. Rosa Nueva Ecija 2 Solar Power project at a cost of Php 3.67 per kilowatt-hour.
MERALCO PowerGen president Emmanuel Rubio said that while SPNEC is committed to supporting the government’s renewable energy goals, the company continued to encounter challenges that make it difficult to proceed with this specific project.
DOE assistant secretary Mylene Capongcol said that the request is currently under review by the DOE’s GEA committee.
Launched in 2022, GEA is a DOE program designed to promote renewable energy through a transparent and competitive selection process.
