Meralco starts bidding for 500-MW RE supply

MANILA, Philippines — Manila Electric Co. (Meralco) is boosting the share of renewable energy (RE) in its power supply portfolio as it has started looking for new suppliers of clean energy.

Meralco said it started its competitive selection process (CSP) for the 500 megawatts (mw) of mid-merit RE capacity.

“The conduct of this CSP is in compliance with the Department of Energy’s policy on Renewable Portfolio Standards and forms part of Meralco’s commitment to source an increasing portion of its supply requirements from RE sources,” the company said in a statement.

The firm said the 10-year power supply agreement coming from the CSP would cover its 350 MW mid-merit requirement beginning February next year, which will increase by 150 MW by February 2026.

Meralco called on power generation companies to submit their expression of interest to bid for the power supply by June 7.

The company has set the pre-bid conference on June 17, while the bid submission deadline will be on July 17.

According to Meralco, it has already contracted 1,880 MW of RE capacity from various suppliers, exceeding its initial target of 1,500 MW, as part of its long-term sustainability strategy.

Meralco expects that RE would account for 22 percent of its power supply portfolio by 2030.