Meralco looking for power gen partners

• 13 years ago (2010-12-29)
• Junior Isles

Asia 846

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Manila Electric Co (Meralco) the Philippines biggest electricity distributor, is looking for up to four potential partners to help it in its foray into the power generation sector.

“Discussions are still ongoing with a number of interested parties… which may help the utility complete its proposed power portfolio of 1500 MW over the next six years,” said Oscar S. Reyes, chief operating officer of Meralco.

In choosing partners, Reyes claims Meralco would prioritise a company’s capability to generate the required capacity quickly and generate at the most cost competitive price.

The winning candidates would enable Meralco to “deliver power to the consumer at a more affordable level,” Reyes said.

Reyes could not confirm reports that Meralco and Marubeni Corp. of Japan were interested in partnering with the Consunji-led SEM-Calaca Power Corp. to build a new 600 MW coal-fired power plant in Batangas worth $750 million.

Team Energy, a venture between Marubeni and Tokyo Electric and Power Co., also confirmed that it was among those that wanted to forge a partnership with Meralco, according to its president Federico Puno.

Based on its timetable, Meralco hopes to bring in an additional 150 MW by 2012, another 150 MW by 2013, 600 MW by 2014, 300 MW by 2015 and 300 MW by 2016.

The company plans to put up either coal-fired or liquefied natural gas-fired facilities between 2012 and 2016, with the critical determinants being price and cost competitiveness.