From coal, Meralco eyes RE projects to reach 3,000 MW

by Myrna Velasco – April 26, 2016

from Manila Bulletin

Power utility firm Manila Electric Company (Meralco) is still keeping its goal on aggregate 3,000-megawatt power generation portfolio, but beyond coal technology, its next investment focus will be on renewable energy (RE) resource development.

Meralco President Oscar S. Reyes noted that one project being cast on blueprint is a hydro pumped-storage facility of 100MW capacity. That will be on top of their aspiration for capital outlay on run-of-river hydropower projects.

Wind technology is similarly on their investment focal point of discussion. If plans are firmed up, the RE arm of the power utility firm feasibly looks at 50 to 100-MW development.

Meralco sets pitch on 3,000 MW planned power projects. Basically, chunk of that will already be cornered by its coal-fired power projects – namely the 455MW San Buenaventura Power Ltd facility; the 1,2000-MW Atimonan One Energy plant; and the 600-MW Redondo Peninsula Energy development.

Beyond these projects, Meralco may still have leverage for at least 745MW capacity; or even higher if it is just based on its attributable capacity.

This is what the company has been saving then for its propounded RE developments and portfolio build-up for gas-fired power facilities.

“Our 3,000MW aspiration for our power generation portfolio will be built through a mix of brownfield and greenfield developments as well as acquisitions,” Reyes said.

He has not given specific details on planned acquisitions, but there have already been previous talks of possible equity take in a liquefied natural gas-fed facility being pursued by the Lopez group in Batangas.

At this stage, Reyes just sounded off that “we have expanded our pipeline of partnership and collaboration opportunities to ensure that our aspiration of 3,000 of new power plant-builds of mixed fuel types comes into fruition.”

Meralco is strategically separating the corporate vehicles for its fossil fuel-fired projects to that of its RE developments.

Company executives previously noted that a separate corporate subsidiary for RE projects will be set up by the Pangilinan-led conglomerate.