PRESIDENT Ferdinand R. Marcos, Jr. (fifth from left) and First Lady Liza Araneta-Marcos (fourth from left) join Manila Electric Co. Chairman and Chief Executive Officer Manuel V. Pangilinan (fifth from right) in unveiling the marker for MTerra Solar Phase 1 during its inauguration in Gapan City, Nueva Ecija, July 14. — NOEL B. PABALATE/PPA POOL
PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday said the $4-billion MTerra Solar project in Central Luzon is expected to supply electricity to more than 2.4 million households by 2027, as the government steps up investments in renewable energy to reduce the country’s dependence on imported fossil fuels.
“Last year alone, coal accounted for 57% of our total power generation mix, while renewable energy contributed only about 25%,” Mr. Marcos said during the inauguration of the project’s first phase in Gapan City, Nueva Ecija. “Such an energy mix leaves us more vulnerable to fluctuations in global fuel prices and developments in the international market.”
The President said the project’s first phase is 91% complete and is expected to begin commercial operations by August.
Meralco PowerGen Corp. (MGEN), a subsidiary of Manila Electric Co. (Meralco), has energized 1,373 megawatt-peak (MWp) of solar photovoltaic capacity and 3,300 megawatt-hour (MWh) of battery energy storage from the project’s Phase 1.
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