Solar PHL in talks with buyers

BY LENIE LECTURA – JUNE 20, 2022
from Business Mirror

Photo shows Solar Philippines’ 150MW solar farm in Concepcion, Tarlac.

Solar Philippines is in discussions with potential buyers of up to 10 gigawatts (GW), or 10,000 megawatts, of solar power capacity that it will be developing soon.

It said Monday that it has submitted offers to substantially contract its 10 GW of developments scheduled to commence operations, mostly in 2025 and 2026.

The offers are awaiting the approval of off-takers and regulators. “If approved, Solar Philippines would potentially have nine terawatt per year of contracted energy, which would serve as a critical mass of demand enabling 10 GW of developments.”

The biggest project is the 3.5-GW facility that will supply the power requirements of the Manila Electric Co. (Meralco).

Also, the company submitted tenders under the Green Energy Auction Program (GEAP) of the government.

Solar Philippines Batangas Baseload Corp., which is developing up to 2 GW solar project with battery storage; Solar Philippines Central Luzon Corp., a joint venture with AC Energy; Solar Philippines South Luzon Corp.; and Solar Philippines Visayas Corp. are among the accredited bidders for the 2GW GEAP.

These are in addition to earlier projects of Solar Philippines, which include 63 MW operating under Solar Philippines Calatagan Corp., a joint venture with Korea Electric Power Corp.; and 100 MW operating plus expansions under Solar Philippines Tarlac Corp.; and Solar Philippines Tanauan Corp., which are also joint ventures with Prime Infra with Meralco Power Supply Agreements.

“While we have been constrained from commenting on our projects due to ongoing contracting processes, we look forward to share more details in the coming days, and so give a better picture of what SPNEC (SP Nueva Ecija Corp.) will look like after the asset-for-share swap,” said Solar Philippines founder Leandro Leviste.

Image credits: www.solarphilippines