MANILA ELECTRIC CO. (Meralco) has launched a competitive selection process (CSP) to procure 200 megawatts (MW) of baseload renewable energy (RE) to comply with its renewable portfolio standards (RPS) obligations, the company said on Monday.
The CSP aims to secure a four-year power supply agreement (PSA) that will cover Meralco’s baseload requirement starting Jan. 26, subject to approval by the Energy Regulatory Commission (ERC), it said in a statement.
The launch follows the Department of Energy’s (DoE) issuance of a certificate of conformity on Dec. 4, confirming that the CSP aligns with Meralco’s latest DoE-approved power supply procurement plan.
Power generation companies can submit expressions of interest (EoI) to Meralco’s Bids and Awards Committee by Jan. 6. A pre-bid conference is scheduled on Jan. 15, and the bid submission deadline is Feb. 16.
“This CSP is consistent with Meralco’s ongoing efforts to expand its supply portfolio from renewable energy while ensuring RPS compliance through a competitive and transparent bidding process,” said Jose Ronald V. Valles, senior vice-president and head of regulatory management.
Distribution utilities conduct CSPs to procure power through a competitive process that results in a PSA at a least-cost basis.
Meralco has already contracted 1,536 MW of renewable energy from various suppliers, exceeding its initial target of 1,500 MW. Through these initiatives, renewable energy is expected to account for 22% of Meralco’s supply portfolio by 2030.
Earlier this year, the DoE approved Meralco’s 2025 power supply procurement plan, which aims to secure nearly 3 gigawatts of electricity supply from 2026 to 2052.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
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