MANILA Electric Co. (Meralco) on Friday said 15 generation companies that expressed interest in a 200-megawatt (MW) renewable baseload requirement had decided to participate in the competitive selection process.
Among the companies that signed up were ACEN Corp., AP Renewable Energy Corp., Bac-Man Geothermal Inc., Energy Development Corp., First Gen Hydro Power Corp., GNPower Kauswagan Ltd. Co. and GNPower Mariveles Energy Center Ltd. Co.
Also joining were Green Core Geothermal Inc., Mariveles Power Generation Corp., Negros Island Solar Power Inc., SanMar Solar Inc., Sinocalan Solar Power Corp., Sual Power Inc., Therma Luzon Inc. and Therma Visayas Inc.
Meralco earlier said the 15 companies had offered a combined capacity of around 725 MW.
“The strong interest from the participating power generation companies affirms the effectiveness of the CSP as a mechanism for securing sufficient and least-cost supply for our customers,” said Lawrence Fernandez, chairman of the Meralco bids and awards committee.
“We look forward to receiving their offers on the bid submission deadline scheduled on Feb. 16,” he added.
Meralco noted that the resulting power supply agreements, subject to the approval of the Energy Regulatory Commission, would cover a 200-MW baseload requirement over the next four years as required under renewable portfolio standards that take effect on Jan. 26.
These require industry players to source at least 11 percent of their power sales from clean energy sources.
Meralco shares on Friday dropped by P10 or 1.67 percent, to close at P590.00 apiece amid a 0.35-percent decline for the benchmark Philippine Stock Exchange index.
