The Manila Electric Company (Meralco) has started the Competitive Selection Process (CSP) for 500 megawatts (MW) of mid-merit renewable energy (RE) capacity.
Meralco's conduct of this CSP demonstrates its commitment to the Department of Energy's (DOE) policy on Renewable Portfolio Standards and its dedication to sourcing 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.
Through its Bids and Awards Committee for PSAs, Meralco is inviting power generation companies to submit Expressions of Interest by June 7. The Pre-Bid Conference is set to take place on June 17, and the Bid Submission Deadline is scheduled for July 17, providing a clear timeline for interested parties.
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% of Meralco's supply portfolio by 2030.
Comments