Capitalists And Money

Solar Philippines’ solar-battery project gets original proponent status

SOLAR Philippines Batangas Baseload Corp. (SPBBC) has secured original proponent status (OPS) to supply power to Manila Electric Co. (Meralco) from its solar-battery baseload project.

“We are grateful for this opportunity to show that solar with batteries can deliver cost-competitive baseload. We thank Meralco for leading the market in the adoption of renewable energy, and look forward to see this project realized for the benefit of consumers,” said Leandro L. Leviste, founder of Solar Philippines Power Project Holdings, Inc., in a press release over the weekend.

SPBBC proposed to supply Meralco with up to 200 megawatts (MW) of baseload power from 1,800 MW of solar and 1,800 MWh of battery storage that it is developing in Batangas towns Nasugbu, Tuy, and Balayan.

The company claims that the project would be the world’s first gigawatt-scale solar-battery baseload project.

OPS projects are subject to a competitive challenge, with the proponent given the right to match comparative proposals.

The proponent is offering electricity at a fixed price of P4.65 per kilowatt-hour for 20 years, inclusive of value-added tax and other charges. Its offer is said to be 20-40% cheaper than the cost of fossil-fueled power generation in the Philippines.

SPBCC added that its project would be able to operate on a 24-hour basis, and can replace the need for a 200-MW coal power plant. The company said it could supply reliable power in all weather conditions.

“With a plant designed to produce the contracted energy even during cloudy days, and with excess during sunny days able to be sold into the wholesale electricity spot market,” SPBCC said.

The company also said it might source backup power from a portfolio of other plants to maximize the availability of supply.

SPBBC is a subsidiary of Solar Philippines. It is set to be added to the portfolio of publicly listed Solar Philippines Nueva Ecija Corp. as part of an approved asset-for-share swap. — Ashley Erika O. Jose