- Meralco has opened an EOI seeking 850 MW worth of renewable energy supply
- Says Terra Solar has offered PHP 6.08 per kWh bid for 2.5 GW solar with 4.,000 MWh of storage
- Of the 850 MW tendered, 600 MW should start supplying clean electricity by February 26, 2026, and 250 MW by February 26, 2027
The Manila Electric Company (Meralco) from Philippines has launched an expression of interest (EOI) for the development of 850 MW renewables, with a bid to challenge PHP 6.08 ($0.12) per kWh bid offered for 2.5 GW solar with 4,000 MWh storage by Terra Power.
It describes Terra Solar as a special purpose vehicle (SPV) of Prime Infrastructure Capital and Solar Philippines Power Project Holdings that plans to develop this capacity in Batangas-Cavite, Bulacan, Nueva Ecija, Tarlac, and/or Zambales for PHP 6.08 ($0.12) per kWh.
Meralco’s 850 MW tender specifies 600 MW capacity to start supplying power by February 26, 2026, and 250 MW by February 26, 2027. The utility will enter into a contract with the winners for 20 years.
In February 2021, Solar Philippines proposed to build a 2 GW solar PV project with 6,000 MWh battery energy storage and 600 MW diesel back up in Nasugbu, Batangas (see 2 GW Solar & Storage Facility Proposed In Philippines).
According to the country’s proposed National Renewable Energy Program (NREP), Philippines aims to increase the share of renewables in its total energy mix by 2030 to 35%, from 21%, and to be scaled up to 50% by 2040.