THE ENERGY REGULATORY COMMISSION (ERC) has given Manila Electric Co. (Meralco) the go‑ahead to start sourcing 21 megawatts (MW) of renewable energy from Santa Cruz Solar Energy, Inc. (SCEI), a subsidiary of ACEN Corp.
In a decision promulgated Feb. 25, the ERC granted final authority for Meralco and SCEI to implement their 10‑year power supply agreement (PSA) starting Feb. 26.
The regulator approved a contract price within the minimum energy offtake price of P8.98 per kilowatt-hour (kWh).
Under the approval, SCEI may supply the contracted capacity from its plant, the electricity spot market, or other sources.
The ERC said any renewal or extension of the PSA term is not allowed.
“Meralco is hereby directed to efficiently utilize the contracted capacity from all its suppliers bearing in mind its obligation to supply at the least cost,” the ERC said.
SCEI is ACEN’s special purpose vehicle for the development of renewable energy projects in the Philippines. It is currently developing the large‑scale San Marcelino solar power project in Zambales.
The company was among the winning bidders in Meralco’s 2024 competitive selection process to cover a 500‑MW mid‑merit requirement starting February 2025.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of the PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
