MERALCO PowerGen Corp. (MGEN) has begun with the construction of the next phase of the P200-billion MTerra Solar project following the integration of its initial phase to the Luzon grid.
Construction of the project is continuing to progress toward full completion, on track to become the world鈥檚 largest integrated solar and storage facility, the company said in a statement on Saturday.
Spanning across Nueva Ecija and Bulacan, MTerra Solar is developing a 3,500-megawatt-peak solar power plant and a 4,500-megawatt-hour energy storage system.
The company said that it has successfully completed the initial grid synchronization and energization of the project, allowing the facility to export 85 megawatts (MW) of constant power to the grid by the end of the month.
鈥淢Terra Solar proves the Philippines can build big 鈥 and build fast. Today鈥檚 energization is not the finish line; it is the start of a bigger journey that will expand our capacity, broaden our impact, and demonstrate that the Philippines can lead in delivering renewable energy at scale,鈥 MGEN President and Chief Executive Officer Emmanuel V. Rubio said.
MGEN is the power generation arm of Manila Electric Co. (Meralco), which currently has more than 5,068 MW of net sellable capacity across conventional and renewable energy assets.
Meralco鈥檚 controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds an interest in 大象传媒 through the Philippine Star Group, which it controls. 鈥 Sheldeen Joy Talavera
