MERALCO power generation unit raising RE investment

Meralco PowerGen Corporation (MGen) is aiming to invest in renewable energy (RE) technologies generating a total of 2,000 megawatts (MW).

While MGenPresident and CEO Rogelio Singson clarified that the previous 1,000 MW target for RE to reach commercial operations within five years is still the main goal, he said that the company is setting its sights on other prospects.

MGen is the power generation arm of the Manila Electric Company (MERALCO), the largest electricity distributor in the country.

Singson added that the pandemic slowed down the implementation of MGen’s investment activities due to quarantine protocols by local government units. Nonetheless, he reported that the construction of its 50 MW Powersource First Bulacan Solar, Inc. (PFBS) project is already 74% complete.

PFBS is partly owned by MGen subsidiary MGen Renewable Energy (MGreen).

The Php4.25 billion solar facility, according to Singson, is expected to reach commercial operations in the first quarter of 2021 instead of an earlier timeframe due to the lockdowns earlier this year.

The engineering, procurement, and construction contract for the Bulacan solar facility was awarded in October 2019.

Upon completion, the facility will supply its generated electricity to the MERALCO franchise area. MGreen and MERALCO signed a 20-year power supply agreement, which was approved by the Energy Regulatory Commission last year.