Meralco power auction draws several bidders

By Alena Mae S. Flores – January 21, 2021 at 09:05 pm
from manilastandard.net

Power retailer Manila Electric Co. said Thursday several generation groups expressed interest to participate in the competitive selection process next week for the supply of 1,800 megawatts.

“At least three interested bidders increased their offered capacities for the CSP. As a result, the aggregate offered capacity now totals 7,000 MW, from the original 6,050 MW offered when the invitation to bid was first published,” Meralco head of utility economics Lawrence Fernandez said.

Meralco earlier published the terms of reference for the invitation to bid for 1,800 MW of supply, including 1,200 MW which would be available by December2024 and 600 MW by May 2025.

Under the 20-year contract, the supply will come from a single or portfolio of baseload power plants provided that the plants should be in commercial operation not earlier than January 2020 and not later than May 2025.