August 8 (Renewables Now) - Solar Philippines Batangas Baseload Corp (SPBBC) has earned an Original Proponent Status (OPS) for its proposal to supply 200 MW of baseload power to Manila Electric Company, also known as Meralco, from a gigawatt-scale solar-plus-storage project.
SPBBC’s proposal envisages supplying Meralco with baseload power in all weather conditions at a fixed price of PHP 4.65 (USD 0.084/EUR 0.082) per kWh over a period of 20 years, inclusive of value-added tax and other charges. The electricity will come from 1,800 MW of solar and 1,800 MWh of battery storage capacity currently being developed in Nasugbu, Tuy, and Balayan, Batangas.
If necessary, SPBBC could source backup power from a portfolio of other plants, while excess output during sunny days could be sold into the wholesale electricity spot market, it said in a statement.
The company, a subsidiary of solar developer Solar Philippines, said that this milestone concludes the 9 TWh per year of contracted energy targeted by its parent. More specifically, Solar Philippines’ listed unit Solar Philippines Nueva Ecija Corporation (PSE:SPNEC) announced in June that it was awaiting the approval of off-takers and regulators in relation to offers to contract 10 GW of projects.
According to the new announcement, SPBBC would be added to the portfolio of the listed company.
(PHP 1 = USD 0.018/EUR 0.018)