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The Manila Power Corporation of the Philippines (Meralco) has launched a competitive selection process, inviting interested power companies to challenge Terra Solar's unsolicited offer of PHP 6.08/kWh ($0.12/kWh) for 850 MW renewable energy generation contracts.

Through the tender campaign, 600 megawatts of capacity must begin operations in February 2026, and another 250 megawatts of capacity must begin operations in February 2027.

The selected bidders will be awarded a 20-year power purchase agreement (PPA). Interested developers have until February 2 to submit their expressions of interest. Meanwhile, a pre-bid meeting will be held on February 4, and the deadline for bids is March 7.

Currently, Meralco’s power generation arm, Meralco PowerGen Corp., is developing renewable energy projects with a total capacity of 1,500 megawatts. It has built a 55-megawatt solar power plant in Bulacan province and started operations last May.

In the future, the Philippine government also plans to introduce a green energy tariff scheme auction system, which aims to allocate 2 GW of renewable energy. 15 GW of clean energy is planned to be installed by 2030.

According to statistics recently released by the International Renewable Energy Agency, driven by the Philippine Renewable Energy Law, the Philippines had an installed PV capacity of 1.04 GW by the end of 2020.