The Manila Electric Company (MERALCO) received a Php 3.50 per kilowatt-hour offer from a wind energy developer in order to provide electricity in the province of Rizal.
The offer came from Island Wind Energy Corp, who plans to set up a 150 MW Energy project in Talim Island in Binangonan, Cardona and an alternative site in Sembrano, Laguna.
According to MERALCO, the proposed price is cheaper compared to Php 8.53 kilowatt per hour and Php 7.40 wind feed-in tarrif rates.
In line with this, MERALCO also offered a price challenge for other energy developers.
The first plant for the planned wind energy project will start on June 30, 2020 and a second power plant is expected to operate in the next year.