Prime Infrastructure Holdings, Inc. (Prime Infra), led by businessman Enrique K. Razon, Jr., said on Wednesday its power unit is building a massive solar power facility and a battery energy storage system (BESS).
The solar power facility will have a capacity of 2,500MW to 3,500MW combined with 4,000MWh to 4,500MWh of battery energy storage system (BESS).
The project will be undertaken by Terra Solar Philippines (Terra Solar), a unit of Terra Renewables Holdings, Inc., which is a renewable power subsidiary under Prime Infra’s control and in partnership with Solar Philippines Power Project Holdings, Inc.
The company said 850MW will be supplied to the Manila Electric Co. (Meralco).
Earlier last year, Terra Solar submitted its bid as an original proponent and following the Department of Energy’s (DOE) approval, went through the competitive selection process. Two entities challenged the bid but failed to submit, paving the way for Terra Solar to seal the power supply agreement with Meralco.
For the Meralco power supply agreement, 600 MW will be available by 2026, while the additional 250 MW will be delivered in 2027.
“We, at Prime Infra, are delighted to move forward with Meralco on this record-breaking project that highlights solar power’s important contribution to strengthening the country’s energy security—solar, which is normally looked at for peaking, is now being made available by Terra Solar to answer Meralco’s mid-merit requirement, thereby addressing both the need for additional capacity and compliance with RPS [Renewable Portfolio Standards],” said Guillaume Lucci, Prime Infra President.
The Terra Solar project is a model of dependable renewable energy, which represents a stable price not subject to fuel imports volatility for the rest of its 20-year contract. According to Terra Solar’s projection, the 850MW supply can displace an annual consumption of approximately 1.4 million tons of coal or 930,000 liters of oil. This means reduction in both greenhouse gas emissions and import dependency for the country from 2026 to 2046.
Renewables in the Philippines accounts for 29.1 percent of installed capacity and could still be ramped up with the contribution of solar energy.
