The Manila Electric Co. (Meralco) has signed its fourth solar power supply agreement (PSA) worth 50-megawatts (MW) as it looks to expand its solar portfolio.
The company has signed a deal with a rate of P2.90 per kilowatt-hour (kwh) which will undergo competitive selection process (CSP).
The 50-MW supply is being offered by the Pilipinas Newton Energy Corp. and is undergoing a price challenge, Meralc head of utility economics Lawrence Fernandez said.
“While there is initial agreement with Newton on price and terms, finalization of PSA will have to wait for completion of the price challenge process,” he said.
“While there is initial agreement with Newton on price and terms, finalization of PSA will have to wait for completion of the price challenge process,” Fernandez said.
This would be the fourth solar PSA that Meralco filed with the Energy Regulatory Commission, he added.
Other solar PSAs include the 50-MW supply from Solar Philippines Tanauan Corp. with a P5.39 per kw rate and another 50-MW supply from PowerSource First Bulacan Solar Inc. at P4.69 per kwh.
Another PSA is with the Solar Philippines Tarlac Corp. (SPTC) with an 85-MW supply at the rate of P2.9999 per kwh beginning 2018.
