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Manila Bulletin devider Business devider Meralco seeks bids for 500-megawatt renewable energy

Meralco seeks bids for 500-megawatt renewable energy

Published May 27, 2024 05:02 am

The Manila Electric Co. (Meralco) has officially initiated the bidding process to procure 500 megawatts (MW) of renewable energy capacity. 

In a statement, Meralco said this move is in compliance with the government's renewable energy standards and reflects its commitment to enhance reliance on renewable energy 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,” Meralco said.

Interested power generation companies are encouraged to submit their Expressions of Interest by June 7, while the Pre-Bid Conference is slated for June 17, and the Bid Submission Deadline is scheduled 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. 

RE is expected to account for 22 percent of Meralco’s supply portfolio by 2030.

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Manila Electric Co. (Meralco) Meralco renewable energy supply
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