Meralco unit switches on 52.8-MW solar farm in Isabela
MANILA, Philippines — Tycoon Manuel Pangilinan-led Meralco PowerGen Corp. (MGen) has energized its 52.8-megawatt (MW) solar plant in Isabela province four months ahead of schedule.
In a statement on Wednesday, MGen said Cordon Solar farm, one of the largest solar facilities in the Cagayan Valley, was under the Department of Energy’s second batch of green energy auction.
Led by MGen’s clean energy arm MGreen, it was originally scheduled for completion by July of this year.
“This new solar power plant will supply clean and reliable electricity to over 53,000 households, supporting the DOE’s goal of increasing the share of renewable energy in the power mix to 35 percent by 2030 and 50 percent by 2040,” MGen said.
The project is also seen to reduce more than 50,400 metric tons of carbon dioxide per year.
Bongabon solar farm
Last month, MGreen also switched on its 19.8-MW solar power plant in Bongabon, Nueva Ecija. This can provide power to at least 20,000 households and establishments.
READ: MGen activates Nueva Ecija solar farm
Following the completion of its Cordon facility, MGen now has seven solar power plants in the country: MGreen BulacanSol, Nueva Solar, MGreen Baras Solar, MGreen Bongabon Solar, MGreen SP Calatagan and MGreen SP Tarlac.
For this year, MGreen targets to fire up an additional 85.2 MW solar capacity. This includes the expansion of its solar project in Baras, Rizal.
MGen, serving as the power generation arm of Manila Electric Co. (Meralco), has an energy portfolio of 2,602 MW.
READ: MGen allots P18B to expand RE portfolio
Through its renewable energy vehicle SP New Energy Corp., the group is set to make a name in the global scene once the MTerra Solar project in Luzon—poised to be the world’s largest solar facility—becomes operational by 2027.
Late in February, Terra Solar Philippines Inc. had obtained a P150-billion loan from six local banks to fund the MTerra project. The remaining funding of about P50 billion will come from its internal funds.
