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The MTerra Solar project is a 3,500-megawatt peak solar facility. It is an affiliate of Meralco PowerGen Corp.
MTerra Solar
MANILA, Philippines — Meralco PowerGen Corp. (MGen), the power generation arm of Manila Electric Co., said its power plants have sufficient fuel supply despite volatility in global energy markets driven by geopolitical tensions.
In a statement on Thursday, March 12, MGen said its current fuel inventory is more than enough to meet operational requirements and support rising electricity demand in both the Philippines and Singapore.
"MGEN continues to operate its generation facilities with high availability through rigorous plant maintenance, efficient operations and the dedication of our people," the company said.
"We also have sufficient fuel supply for our existing generation facilities enabling us to meet current operational requirements, support electricity demand and contribute to overall grid stability," it added.
Investments in new energy capacity
MGen said it is also strengthening regional energy security through investments in new power capacity, particularly large-scale renewable energy projects.
Among these is the MTerra Solar project, a 3,500-megawatt peak (MWp) solar facility paired with a 4,500-megawatt-hour battery energy storage system.
The company said the project demonstrates how renewable energy combined with storage systems can serve as a viable alternative to traditional mid-merit power sources that rely on imported fuels.
"Through this project, we have proven that the combination of variable renewable energy with energy storage systems is a viable alternative to traditional sources of mid-merit supply which is reliant on imported fuels," MGen said.
Energy concerns. MGen issued the statement as global energy markets react to escalating tensions in the Middle East.
The conflict between the United States and Iran has disrupted energy supply routes, including the Strait of Hormuz, where about 20% of the world's oil supply passes.
The disruption has pushed crude prices higher and prompted several countries to tap their oil reserves amid fears of supply shortages.
