MGEN eyeing Meralco’s 900-MW baseload capacity bidding
MANILA, Philippines — Meralco PowerGen Corp. (MGEN) remains keen to fire up its 1,200-megawatt (MW) coal plant in Quezon province, as it eyes a win in its parent firm’s baseload capacity auction.
MGEN president and CEO Emmanuel Rubio said the group will participate in Manila Electric Co. (Meralco )’s planned bidding for a 900-MW baseload supply. Baseload refers to the capacity and supply that power plants deploy throughout the business day.
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The company is Meralco’s power generation arm, with interests in solar, thermal, and natural gas assets.
Late last month, Meralco, the country’s largest power distributor, said companies wanting to join in the bidding could formally express their interest by Oct. 15.
The 15-year power supply agreements resulting from this auction would take effect by 2031.
“Hopefully, when we win it, we can build it. This is the last opportunity for MGEN to execute Atimonan,” he told reporters on the sidelines of the Philippine Energy Investment Forum.
“As we have communicated, the plan is still to build the 1,200-MW ultra-supercritical coal plant. It’s fully permitted,” Rubio added.
While the Department of Energy (DOE) imposed a moratorium on new coal plants to cut carbon emissions and support the government’s push to shift to clean energy, it clarified that it did not ban the development of coal-fired power plants in the country. Existing and operational facilities that have committed to expansion can still pursue these.
Rubio previously stated that the Atimonan plant is on the “committed list.”
The executive likewise said that the company has no plans to repurpose the Atimonan facility.
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“Atimonan will be coal. If we don’t win it with coal now, I don’t think Luzon needs another LNG (liquefied natural gas) terminal,” he said.
“In fact, in the gas capacity auction, we submitted our expression of interest, and we qualified for 1,000 MW in 2031 delivery through LNGPH,” Rubio added.
San Miguel Corp., Aboitiz Power, and MGEN lead LNGPH. The country’s first mid-merit natural gas bidding pre-qualified nine more firms, in addition to LNGPH. /pai
