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Manila Bulletin devider Business devider Chinese firm tapped as EPC contractor for Meralco subsidiary's solar projects

Chinese firm tapped as EPC contractor for Meralco subsidiary's solar projects

Published Feb 1, 2024 06:48 am

At A Glance

  • Upon reaching commercial stream toward the year-end, the two solar facilities will be assured of revenue stream from their generated capacity as they were among the projects awarded with long-term power supply agreements (PSAs) under the green energy auction (GEA) administered by the Department of Energy.

Chinese firm SUMEC Complete Equipment and Engineering Co. Ltd. had been engaged by MGen Renewable Energy, Inc. (MGreen), a renewable energy investment unit under the Manila Electric Company (Meralco) group, as the engineering procurement and construction (EPC) contractor for its two solar projects in Isabela and Nueva Ecija.

The two solar installations to be moved to construction phase by the newly appointed EPC contractor would be the 49-megawattac (MWac) development in Cordon, Isabela; and the 18.75MWac solar project to be sited in Bongabon, Nueva Ecija.

As firmed up in the contract, MGen President and CEO Jaime T. Azurin is raising hope that “with the cooperation of SUMEC, we’ll be able to deliver the project on time, on schedule, and within budget.”

In turn, SUMEC Senior Marketing and Sales Director Lennon Zong had given his company’s commitment on the “timely completion of the said projects.”

Upon reaching commercial stream toward the year-end, the two solar facilities will be assured of revenue stream from their generated capacity as they were among the projects awarded with long-term power supply agreements (PSAs) under the green energy auction (GEA) administered by the Department of Energy. The GEA delivery date commitments for the two projects will be by July 2025.

“These projects signify a strategic move by MGreen to expand its solar power capacity and contribute significantly to the nation’s renewable energy aspirations,” the company has emphasized in its statement to the media.

The GEA, in particular, is an incentive mechanism institutionalized by the government so it can progressively entice fresh capital flow into the flourishing renewable energy (RE) sector of the country.

The decarbonization pathway of the Philippines had been primordially anchored on ramping up RE investments – and these are also the kind of infrastructure projects being lured by President Marcos in his working visits overseas, primarily in his interaction with array of interested investors.

On accelerating the green energy portfolio of the Meralco group, MGen Expanding Markets Division Head Dan Neil qualified that in the company’s forward journey, “the real hard work begins—the day-to-day dedication to ensuring the timely completion of these projects.”

To achieve the DOE-sanctioned commercial operate date (COD) of the plants, Neil indicated that they have been prodding their team “to bring forth the same level of hard work and collaborative spirit to effectively address any challenges that may arise along the way.”

MGreen is an emerging ‘giant player’ in the solar development segment of the RE sector – as it will also be undertaking the pipelined 3,500MW Terra Solar project that shall be coupled with up to 4,500-megawatt hours (MWh) of energy storage system.

Its currently operating facilities in the solar space are its 55MW PowerSource First Bulacan solar farm project; the 68MWac Nuevo Solar Energy Corp in Currimao, Ilocos Norte; and the 75MWac solar venture in Baras, Rizal. 
 

Related Tags

MGreen solar PV Manila Electric Co. (Meralco) decarbonization green energy auction
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