NKS Solar spending $100m on first phase of floating solar plant

By Alena Mae S. Flores – December 18, 2024, 6:55 pm
from manilastandard.net

NKS Solar One, a joint venture between Blueleaf Energy Philippines and NKS Energy Utilities, is looking at capital expenditure of $100 million for the construction and completion of the first phase of its 250-megawatt peak floating solar project in Caliraya and Lumot Lakes in Laguna.

Phase 1 involves the 162-megawatt peak Caliraya floating solar project, while phase 2 covers the 88-MWp Lumot floating solar project.

NKS senior project manager Pradeep Gopalakrishnan said the company is finalizing negotiations with Xian and Energy China for the AC and DC component of the engineering, procurement and construction (EPC) contract.

“We are talking with two EPCs, one is for AC, the other is for the DC… One is Xian Electric which has 13 years of presence in the Philippines. The other one is Energy China,” Gopalakrishnan said.

NKS Solar was awarded a certificate of energy projects of national significance (CEPNS) by the Department of Energy under Executive Order 30 for its Laguna floating solar plants, which is anticipated to be the country’s first utility-scale floating solar project.

The CEPNS status will help expedite and streamline the issuance of necessary permits and clearances from various government agencies and authorities.

The certification recognizes energy projects that significantly impact the country’s energy security, economic growth, and environmental sustainability.

NKS Solar One is one of the winners in the DOE’s Green Energy Auction Program 2. The project also received green lane status from the Board of Investments in April 2023.

Blueleaf Energy Philippines is a specialist onshore renewable energy business that develops and operates utility-scale solar projects. It is a portfolio company of Macquarie Capital, operating on a stand-alone basis.