Solar Phils, Meralco soon to ink power supply deal
Bilyonaryo Leandro Leviste expects his company, Solar Philippines to sign an agreement with Manila Electric Co. Covering the supply of 85-megawatts of solar power.
“We should sign soon,” Leviste said.
Leviste said Citicore Power Inc., which offered P3.50 per kilowatt-hour (kWh) did not exercise its right to match Solar Philippines’ price of P2.99/kWh.
Last June 29, CPI pitched a 75-85 MW solar capacity for 20 years. This will be sourced from a 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 SolarPower Inc.
Meralco gave interested parties until Aug.14 to submit their financial proposals. Solar Philippines was the lone challenger.