Meralco raises solar capacity to 185 MW

LISTED power distributor Manila Electric Co. (Meralco) has secured about 185 megawatts (MW) of solar power for its franchise areas, bolstering its renewable energy (RE) capacity, a top executive revealed.

“We have already signed up about 185 [MW]” of the 200 MW solar capacity the company is targeting, Meralco President Oscar Reyes told reporters on Wednes

Earlier this month, Meralco inked a power supply agreement (PSA) with Solar Philippines to obtain 85 MW of solar power at P2.99 per kilowatt hour (kWh), which would be sourced from the latter’s solar plant being constructed in the municipality of Concepcion, Tarlac.

This was the second supply deal entered into between Meralco and Solar Philippines. Before this, the two had also agreed on a 50-MW supply deal.

Reyes said that when Meralco established its renewable energy subsidiary, Spectrum, in January last year, their objective was to essentially “help meet customer demand and customer preference” for renewables.

Meralco last year unveiled its first solar rooftop undertaking between its RE unit and Robinsons Mall. Robinsons Mall tied up with Spectrum for its solar photovoltaic (PV) system at Robinsons Novaliches with a contracted capacity of project of the retail giant and mall operator.

Meralco is the country’s largest power distributor, with subsidiaries that are engaged in engineering and consulting, construction, bills payments, and other electricityrelated services.

Shares of Meralco gained 1.05 percent to close at P288 on Wednesday.