MANILA, Philippines — Manila Electric Co. (Meralco) has began the Competitive Selection Process (CSP) for 500 megawatts (MW) of mid-merit renewable power (RE) capability.
The conduct of this CSP is in compliance with the Department of Energy’s (DOE) coverage on Renewable Portfolio Standards and varieties a part of Meralco’s dedication to securing an rising portion of its provide necessities from RE sources.
The 10-year Power Supply Agreement (PSA) ensuing from this CSP will cowl Meralco’s 350-MW mid-merit requirement beginning February 2025, which is able to enhance by 150-MW starting February 2026.
READ: Meralco tops renewable power provide purpose
Through its bids and awards committee for PSAs, Meralco calls on energy technology firms to submit expressions of curiosity by June 7. The pre-bid convention is scheduled for June 17, whereas the bid submission deadline is ready for July 17.
As a part of its long-term sustainability technique, Meralco has already contracted 1,880 MW of RE capability from numerous suppliers—exceeding its preliminary goal of 1,500 MW.
Through its strategic sourcing initiatives, RE is predicted to account for 22 p.c of Meralco’s provide portfolio by 2030.
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