Meralco PowerGen Corp. (MGen) is in talks with the Laguna Lake Development Authority (LLDA) for the development of a 110 megawatts (MW) floating solar project.
Rogelio Singson, the company’s president and chief executive officer, told reporters on Tuesday subsidiary MGEN Renewable Energy Inc. (MGreen) and a local partner are readying the pilot of the project.
Singson said the project can be constructed in 10 months but the company has to come up with a pilot first while LLDA is developing the policy.
Singson said the project is expected to help solve the algae growth problem in Laguna Lake that has recently caused water supply interruptions in several areas.
He said MGen is talking to one of the four entities granted the right to develop the pilot.
“One operator already made an offer to Meralco with a price offer, benchmarks and numbers we’re working on,” Singson added,
He said the project will also require additional transmission lines.
He added the proposed floating solar project will benefit from MGreen’s P424 million funding which the company will use to invest in various solar projects under development with a combined capacity of 210 MW and total combined project cost of P10 billion.