Bulacan solar energy facility goes online
POWERSOURCE First Bulacan Solar Inc. (PFBSI) has switched on its 50-megawatt (MW) solar power plant in San Miguel, Bulacan.
The P4.25-billion solar facility, now called Bulacan Sol, commenced commercial operations and is providing clean to the Luzon grid.
This, after securing a clearance to operate from the Energy Regulatory Commission on Wednesday.
PFBSI is a joint venture of MGen Renewable Energy Inc. (MGreen), which holds a 60-percent stake while Power Source Energy Holdings Corp. holds the other 40 percent.
MGreen is the renewable energy unit of Meralco Power Gen Corp. (MGen), the power generation arm of the Manila Electric Co. (Meralco).
“This is a modest step into renewables but a significant one for Meralco. We look forward to many more investments in renewables, particularly solar, as we attempt to achieve that balance in fuel sourcing, which will ultimately be biased toward renewables,” Meralco Chairman Manuel Pangilinan said.
“In June 2019, Meralco made the first announcement that it would join the shift to renewable energy and it will adopt sustainable practices for the One Meralco Group. And today, we realize the very first renewable power plant — the first of several that One Meralco has lined up for investment and sourcing,” said Meralco President and Chief Executive Officer Ray Espinosa.
PFBSI Chairman Rogelio Singson said the Bulacan Sol project signifies the commitment of Meralco and Power Source Group to help ensure energy security through clean, cost-competitive and sustainable power.
“We pledge to continue building more environmentally conscious projects as part of our commitment to a sustainable energy transition for the future generations,” said Singson, who is also MGen’s president and chief executive officer.
“As the first operational project of MGreen, Bulacan Sol is a very important milestone that drives us to aggressively pursue more projects that will help us achieve our target of building a renewable energy portfolio with a capacity of up to 1,500 megawatts in the next five to seven years,” he added.
Construction activities for the plant started in December 2019 following the issuance of notice to-proceed to SUMEC Complete Equipment and Engineering Co. Ltd., the engineering, procurement and construction contractor for the project.
“We share this achievement with our employees, engineers, contractors and partners in the government and private sector who worked together to bring this project into reality. With their perseverance, determination and hard work, we are finally going to see the light,” PFBSI President and Power Source Chairman Aloysius Colayco said.