Negosyante News

May 20, 2024 5:34 pm

Green Energy Milestone: Philippines Embarks on Historic Solar Project in Nueva Ecija and Bulacan

SP New Energy Corporation (SPNEC), in collaboration with its subsidiary Terra Solar Philippines, has initiated a groundbreaking solar project, touted as the world’s largest, spanning approximately 3,500 hectares across Nueva Ecija and Bulacan. The company is accelerating site clearance for the construction of interconnection facilities with the national grid and installing over five million solar panels. The project’s first phase is anticipated for completion in early 2026.

This ambitious Terra Solar project, centered in Peñaranda, aims to include 3,500 MW of solar panels and 4,000 MWh of battery storage, estimated at P200 billion. It’s projected to generate over 5 billion kWh annually, accounting for about 5% of the total Philippine grid volume and 12% of its total demand. The Department of Energy notes that this project’s capacity will surpass the combined capacity of all grid-connected solar projects in the Philippines, which currently stands over 1.5 GW.

 

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