Meralco unit plans to join Singapore power plant’s bidding
By Alena Mae S. Flores – August 5, 2024, 7:25 pm
from manilastandard.net
PacificLight Power Pte Ltd.
PacificLight Power Pte Ltd. (PLP), a subsidiary of the Meralco PowerGen Corp. (MGen), plans to participate in the request for proposals of Singapore’s Energy Market Authority to build two new hydrogen-ready combined cycle gas turbines with at least 600-megawatt (MW) generation capacity.
“And now focusing on Singapore, the gas plants in Singapore, we just got additional 100 MW, and we might participate in the bidding for the new plants that Singapore wants to do—two 600 MW units, so we might bid for one, 600 MW,” Meralco PowerGen chairman Manuel Pangilinan said.
Meralco PowerGen is the power arm of Manila Electric Co., the Philippines’ biggest power distributor.
The Energy Market Authority (EMA) of Singapore awarded to PacificLight in March the right to build, own and operate two power generating units that will provide 100 MW by the second quarter of 2025.
Meralco PowerGen president Emmanuel Rubio said the award to PacificLight “aligns with our commitment to providing dependable, reliable, and sustainable power to Singapore’s rising energy demand.”
“The service [that] this is providing is equivalent to our dispatchable reserve and paid capacity fee and when generated is paid energy fee in the spot market,” he said.
PacificLight delivered consolidated core net income of S$148.7 million (P6.4 billion) in the first half and is expected to achieve only slightly lower than the full year 2023.
