Meralco 15 firms join bidding for supply deal

Meralco's Brighter Tomorrow 15 Companies Bid for Renewable Energy Supply

As the energy landscape continues to evolve, Manila Electric Co. (Meralco) has taken a significant step towards securing its future by inviting 15 generation companies to participate in a competitive selection process for a 200-megawatt (MW) renewable baseload requirement.

The Players

Among the participating companies are several well-known names in the industry, including ACEN Corp., AP Renewable Energy Corp., Bac-Man Geothermal Inc., Energy Development Corp., First Gen Hydro Power Corp., GNPower Kauswagan Ltd. Co., and GNPower Mariveles Energy Center Ltd. Co. Other participants include Green Core Geothermal Inc., Mariveles Power Generation Corp., Negros Island Solar Power Inc., SanMar Solar Inc., Sinocalan Solar Power Corp., Sual Power Inc., Therma Luzon Inc., and Therma Visayas Inc.

Combined Capacity of 725 MW

Meralco has revealed that the 15 companies have offered a combined capacity of approximately 725 MW, indicating a strong interest in participating in this competitive selection process.

The Value of Competitive Selection Process

Lawrence Fernandez, chairman of Meralco's bids and awards committee, highlighted the effectiveness of the competitive selection process (CSP) as a mechanism for securing sufficient and least-cost supply for customers. We look forward to receiving their offers on the bid submission deadline scheduled on February 16, he added.

Renewable Portfolio Standards

The resulting power supply agreements, subject to approval by the Energy Regulatory Commission, will cover a 200-MW baseload requirement over the next four years as required under renewable portfolio standards that take effect on January 26. These requirements aim to promote the use of clean energy sources and reduce the industry's reliance on traditional fossil fuels.

Market Reaction

Meralco shares dropped by P10 or 1.67 percent, to close at P590.00 apiece amid a 0.35-percent decline for the benchmark Philippine Stock Exchange index.

Conclusion

The future of Meralco and the broader energy sector looks bright as more companies join forces to promote the use of renewable energy sources. As we move beyond 2026, it will be essential to continue to innovate and adapt to changing market conditions while maintaining a strong focus on sustainability.

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.