by Myrna Velasco – June 1, 2016
from Manila Bulletin
The renewable energy (RE) subsidiaries of Manila Electric Company (Meralco) will be in search for strategic partners for projects that they have been casting in blueprint on this sphere.
Meralco President and Chief Eexecutive Officer Oscar S. Reyes noted that they will be scouting for a “credible and established partner” for their RE ventures.
He said their RE projects will likely be taken up by subsidiary MSpectrum for solar; and some will be done via Meralco PowerGen (MGen), its power generation investment arm – even for big-scale fossil fuel-fired power plants.
“For utility-scale renewables, our approach will continue to be partnerships because we would like to do these ventures together with established and credible partners,” Reyes said.
He noted that their targeted projects would be across varying technologies – including solar, wind, biomass and hydropower developments.
“MSpectrum is more for solar, the other renewables, some will be MGen, especially large-scale renewables,” Reyes said. MSpectrum, for its part, is now building momentum on its planned 20-megawatt venture as take-off point for solar rooftop installations.
Meralco senior vice president Alfredo S. Panlilio, who will also be heading MSpectrum, has noted that this specific subsidiary will “take a look at rooftop and utility scale solar installations.”
He noted that for the first year of operations starting this 2016, their target will be for up to 20MW of solar rooftop installations.
“We do have a pipeline of accounts that we are looking at,” Panlilio said, albeit he emphasized that their subsidiary is still at the process of reinforcing organizational structure.
“We are still building our team, we are still looking to the key accounts that we can take a look at. But initially, commercial and industrial would be our focus and residential would be more of opportunistic in terms of engagements,” he qualified.
He noted that their plan to finally firm up investments on solar is aligned with Meralco’s overall goal to get serious in getting into renewable energy ventures.
“We know that this is something that will be a different business model for Meralco,” Panlilio stressed.