Meralco-affiliate MGen Renewable Energy Inc. through its subsidiary Greentech Solar Energy Inc., or GSEI, is expanding its solar power portfolio by adding 18 megawatts of new capacity that will be commercially operational by early next year.
The initiative will not only enhance the company’s presence in the renewable energy market but will also support its commitment to help meet government targets in the transition to clean energy.
GSEI started the construction of the 18.75 MW solar power plant in Bongabon, Nueva Ecija last week. The project is scheduled to start commercial operation within the first quarter of 2025.
Company commitment
MGen Government Relations and Industry Affairs first vice president Philip Dasalla pointed out that the development is part of the company’s commitment to build 1,500 MW of renewable energy projects by the end of the decade.
“As part of One Meralco’s long-term sustainability agenda and as we heed to the call of the government for the attainment of a 35 percent renewable energy target mix by 2030, we will ensure, together with our dedicated partners, to efficiently serve the country’s growing power needs with cleaner energy in a cost-competitive manner,” Dasalla said.
Winning bidder
GSEI is among the winning bidders in the Department of Energy’s second round of Green Energy Auction Program.
Currently, MGreen has three operating solar plants: the PowerSource First Bulacan Solar Inc.’s 55-MW solar plant in San Miguel, Bulacan in partnership with PowerSource Energy Holdings Corp.; the Nuevo Solar Energy Corp.’s 68-MW solar farm in Currimao, Ilocos Norte with Vena Energy’s Pasuquin Energy Holdings Inc., and the PH Renewables Inc.’s 75-MW solar farm in Baras, Rizal with Mitsui & Co.’s Mit-Renewables Power Corp.