Solar Philippines said it submitted an offer to Manila Electric Co.’s invitation to challenge the bid of Citicore Power Inc. to supply up to 85 megawatts of capacity at a rate of P3.50 per kilowatt-hour. Solar Philippines said in a statement that under its proposal, Meralco consumers could enjoy 30 percent lower rates given the record-low prices from solar developers. Meralco published an invitation to other bidders to participate in a competitive selection process to supply 85 megawatts and challenge the price offer of Citicore on June 28. Citicore offered to supply 75 MW to 85 MW of capacity from its three solar plants such as Next Generation Power Technology Corp. in Mariveles, Bataan; First Toledo Solar Energy Corp. in Toledo, Cebu; and Silay Solar Power Inc. in Silay, Negros Occidental. Meralco is required to publish an invitation for a price challenge under the competitive selection process rules of the Energy Department and the Energy Regulatory Commission.

Source: The Standard August 17, 2017 11:48 UTC