The Manila Electric Company (MERALCO) has secured bids for the 500 megawatts (MW) of renewable energy (RE) supply from three generation companies, following a competitive selection process (CSP).
The three bidders, namely, San Roque Hydropower, Inc. (SRHI), Gigasol3, Inc., and Santa Cruz Solar Energy, Inc. (SCSEI), submitted their qualification documents alongside their technical proposal and bid price.
On the same day, the Bid and Awards Committee for Power Supply Agreements (BAC-PSA) declared that SRHI submitted the lowest total headline rate amounting to Php 7.1000 per kilowatt-hour (kWh) for 340 MW of the total requirement.
Meanwhile, Gigasol3 proposed Php 8.1819 per kWh for the 139 MW requirement, and SCSEI offered Php 8.1998 per kWh for the 21 MW.
The BAC-PSA pointed out that all offers received were less than the Php 8.2380 per kWh reserve price established for this CSP.
Prior to issuing Notices of Award, the committee would perform a post-qualification evaluation and provide its recommendations and findings to MERALCO’s Board of Directors for approval.
The 10-year PSA from this CSP will fulfill MERALCO’s 350 MW mid-merit requirement starting in February 2025, with an additional 150 MW beginning in February 2026.
In line with its long-term sustainability strategy, MERALCO has secured 1,880 MW of renewable energy capacity from various suppliers, surpassing its initial target of 1,500 MW. With these strategic sourcing efforts, renewable energy is projected to constitute 22% of MERALCO’s supply portfolio by 2030.
