Solar Philippines challenges Citicore’s offer to Meralco
Solar Philippines of Bilyonaro Leandro Leviste has offered a lower rate for a solar power supply of up to 85 megawatts (MW) to Manila Electric Company (Meralco).
While he did not disclose the offered rate, this effectively challenges the P3.50 per kilowatt-hour (kwh) offer of Citicore Power Inc. CPI), which was subject to a price challenge in compliance with the Competitive Selection Process (CSP) policy of government.
Citicore’s rate is much lower than the latest Feed-in Tariff (FIT) rate of P8.69 per kwh.
“We have opted to sacrifice our returns to offer Meralco consumers the same price on 85 MW as we have offered for 5000 MW. The exact rate will be made public next week, but what we can disclose is it should be the lowest true cost of generation in Philippine history,” Leviste said.
In June 29, CPI pitched a 75-85 MW solar capacity for 20 years. This will be sourced 60-MW solar power plant in Toledo City, Cebu under First Toledo Solar Energy Corp. (FTSEC), the 18-MW solar farm within the Freeport Area of Bataan in Mariveles under Next Generation Power Technology Corp. (NGPTC), and the 25-MW solar power plant in Silay City, Negros Occidental under Silay Solar Power Inc.
Meralco gave price challengers until August 14 to submit their financial proposals.