Manila Electric Co., the biggest power distributor, signed agreements to purchase 3,551 megawatts of power supply with seven generators. The power supply accounts for 81 percent of the 4,384-megawatt combined capacity of the generators.
Meralco disclosed to the Philippine Stock Exchange it filed applications with the Energy Regulatory Commission to approve the supply agreements between the company and the power companies.
The company sought approval of the agreement with Redondo Peninsula Energy Inc. for the supply of 225 MW for its baseload requirements. RP Energy, which is majority controlled by Meralco PowerGen Corp., plans to construct a 300-MW coal-fired power plant within the Subic Bay Freeport Zone.
Meralco PowerGen is the power generation unit of Meralco. Other RP Energy shareholders are Aboitiz Power Corp. and Taiwan Cogeneration International Corp.
The company said it also signed a supply agreement with St. Raphael Power Generation Corp. for the purchase of up to 400 MW of electrical output.
St. Rafael, the joint venture between Semirara Mining and Power Corp., Meralco PowerGen and Marubeni Corp., plans to build a 700-MW, coal-fired power generating facility consisting of two 350-MW units in Calaca, Batangas province.
Meralco agreed to purchase the entire 1,200-MW output of Atimonan One Energy Inc. Atimonan One, also majority controlled by Meralco PowerGen, plans to construct a 1,200-MW coal-fired power generating facility consisting of two 600-MW units in Atimonan, Quezon province.
Meralco also signed supply agreements with two companies owned by San Miguel Corp., namely Central Luzon Premiere Power Corp. and Mariveles Power Generation Corp.
Meralco will purchase up to 528 MW of the output of Central Luzon Premiere, which is building a 600-MW coal-fired power generating facility in Pagbilao, Quezon, which is scheduled to become operational not later than 2021.
It agreed to buy 528 MW from Mariveles Power, which plans to construct a 600-MW coal-fired power plant in Mariveles, Bataan, which is scheduled to become operational not later than 2020.
Meralco,meanwhile, will secure power from two companies owned by Global Business Power Corp. of the Metrobank Group. Meralco PowerGen also owns a 22-percent stake in Global Business Power.
It will purchase 70 MW from Panay Energy Development Corp., which owns and operates a 164- and a 150-MW coal power plants in Barangay Ingore, La Paz, Iloilo, which is scheduled to become operational by August 26.
The power distributor will also purchase 600 MW from Global Luzon Energy Development Corp. that plans to build a 670-MW coal-fired plant in Barangay Luna, La Union, which is scheduled to become operational by 2022.
The Standard
posted May 03, 2016 at 11:20 pm by Alena Mae S. Flores
http://thestandard.com.ph/business/204817/meralco-signs-deals-to-purchase-3-551-megawatts-of-power.html