Manila Electric Co. asked other power suppliers to match the P2.9887 per kilowatt-hour price offer of Pilipinas Newton Energy Corp. from a 50-megawatt solar power plant.
Meralco, in a published invitation for price challenge, sought offers from other power developers to supply 50 MW of capacity from a solar plant.
“An offer made by the price challenger should be under the same terms and conditions of the power supply agreement provided by Meralco, except for the financial proposal,” Meralco said.
Pilipinas Newton’s offer is so far the lowest received by Meralco for solar supply to date. The previous lowest offer was P2.9999 per kWh from Solar Philippines for 85 megawatts of solar capacity.
Pilipinas Newton proposed to start supplying Meralco beginning December 31, 2018, or eight months after the issuance of a final approval from the Energy Regulatory Commission. The contract period covers 20 years from the date of commercial operations.
Meralco said interested bidders must submit offers on or before January 2, 2018.