In a press statement, the power distributor said this initiative aligns with the Department of Energy’s Renewable Portfolio Standards and Meralco’s commitment to increasing its RE supply.
The 10-year Power Supply Agreement will cover 350 MW starting February 2025, increasing to 500 MW by February 2026.
Meralco is inviting power generation companies to submit interest by June 7, with the pre-bid Conference on June 17 and bids due by July 17.
As part of its long-term sustainability strategy, the company said it has already contracted 1,880 MW of RE capacity from various suppliers—exceeding its initial target of 1,500 MW.
Through its strategic sourcing initiatives, RE is expected to account for 22% of Meralco’s supply portfolio by 2030.
