In a statement, the country’s largest power retailer said the bid submission deadline on July 17 saw San Roque Hydropower Inc. (owned by San Miguel Global Power) and Gigasol3 Inc. and Santa Cruz Solar Energy, Inc. (both owned by Ayala’s ACEN) submitting their qualification documents, technical proposals, and bid prices.
Best bids
During the bid opening, the bids and awards committee for power supply agreements revealed that San Roque Hydropower submitted the lowest total headline rate of P7.1000 per kilowatt-hour (kWh) for 340 MW.
Gigasol3 offered P8.1819 per kWh for 139 MW, while Santa Cruz Solar secured the remaining 21 MW at P8.1998 per kWh. All offers were below the P8.2380 per kWh reserve price set for this CSP.
The submissions underwent stringent assessment and pre-qualification evaluation.
The bid committee will conduct a post-qualification evaluation and submit recommendations to Meralco’s board of directors before issuing notices of award.
Meralco said the bidding process is aligned with guidelines of both the Department of Energy and the Energy Regulatory Commission.
Meralco bid committee chairman Larry Fernandez confirmed the company’s adherence to ERC and DOE regulations, with the selection proceedings having been streamed live for transparency.
Securing future supply
The resulting 10-year power supply deals will cover Meralco’s 350-MW mid-merit requirement from February 2025, increasing by 150 MW from February 2026.
Meralco aims to have renewable energy account for 22% of its supply portfolio by 2030, having contracted 1,880 MW of renewable capacity to date.
