MANILA, Philippines — Meralco Powergen Corp. (MGen) has renamed its first solar investment to BulacanSol as it commenced commercial operations to provide the Luzon grid with clean and renewable power.
Formerly PowerSource First Bulacan Solar Inc. (PFBSI), BulacanSol has secured a clearance to operate from the Energy Regulatory Commission on May 12.
“This is a modest step into renewables but a significant one for Meralco. We look forward to many more investments in renewables, particularly solar, as we attempt to achieve that balance in fuel sourcing, which will ultimately be biased towards renewables,” Meralco chairman Manuel V. Pangilinan said.
Located in San Miguel, Bulacan, the P4.25-billion project is a joint undertaking of MGen Renewable Energy Inc. (MGreen), which owns 60 percent of the project and PowerSource Energy Holdings Corp. with 40 percent.
MGreen is the renewable energy unit of MGen, which in turn is the power generation arm of Manila Electric Co. (Meralco).
BulacanSol now plays a significant role in One Meralco Group’s long-term sustainability agenda.
“In June 2019, Meralco made the first announcement that it would join the shift to renewable energy and it will adopt sustainable practices for the One Meralco Group. And today, we realize the very first renewable power plant – the first of several that One Meralco has lined up for investment and sourcing,” Meralco president and CEO Ray Espinosa said.
BulacanSol signifies the commitment of One Meralco and PowerSource Group to help ensure energy security through clean, cost-competitive and sustainable power, its chairman Rogelio Singson said.
“We pledge to continue building more environmentally conscious projects as part of our commitment to a sustainable energy transition for the future generations,” said Singson, who is also the president and CEO of MGen.
“As the first operational project of MGreen, BulacanSol is a very important milestone that drives us to aggressively pursue more projects that will help us achieve our target of building a renewable energy portfolio with a capacity of up to 1,500MW in the next five to seven years,” he said.
Construction activities for the plant started in December 2019 following the issuance of notice-to-proceed to SUMEC Complete Equipment & Engineering Co. Ltd., the engineering, procurement, and construction contractor for the project.
In February, BulacanSol reached 1.5 million safe man-hours without lost time incident, reflecting the company’s commitment to safety and security in all its activities.
“We share this achievement with our employees, engineers, contractors, and partners in the government and private sector who worked together to bring this project into reality. With their perseverance, determination and hard work, we are finally going to see the light,” PFBSI president and PowerSource chairman Aloysius Colayco said.
This was achieved notwithstanding hurdles encountered including delays brought about by the COVID-19 pandemic and a string of weather disturbances that limited movements at the power plant site.