Meralco seeks bids for 500-MW renewable energy supply

Meralco seeks bids for 500-MW renewable energy supply

/ 10:16 AM May 27, 2024

MANILA, Philippines — Manila Electric Co.  (Meralco) has started the Competitive Selection Process (CSP) for 500 megawatts (MW) of mid-merit renewable energy (RE) capacity.

The conduct of this CSP is in compliance with the Department of Energy’s (DOE) policy on Renewable Portfolio Standards and forms part of Meralco’s commitment to securing an increasing portion of its supply requirements from RE sources.

The 10-year Power Supply Agreement (PSA) resulting from this CSP will cover Meralco’s 350-MW mid-merit requirement starting February 2025, which will increase by 150-MW beginning February 2026.


READ: Meralco tops renewable energy supply goal


Through its bids and awards committee for PSAs, Meralco calls on power generation companies to submit expressions of interest by June 7. The pre-bid conference is scheduled for June 17, while the bid submission deadline is set for July 17.

As part of its long-term sustainability strategy, Meralco has already contracted 1,880 MW of RE capacity from various suppliers—exceeding its initial target of 1,500 MW.

Through its strategic sourcing initiatives, RE is expected to account for 22 percent of Meralco’s supply portfolio by 2030.

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TAGS: Meralco, renewable energy

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