SPNEC taps Energy China for Luzon solar farm
By Lisbet K. Esmael – 09:05 AM November 20, 2024
from @lisbetesmael – inquirer.net / Philippine Daily Inquirer
Terra Solar Philippines, Inc. (TSPI) signs the Engineering, Procurement, and Construction (EPC) contract with China Energy Engineering Group Co., Ltd (Energy China) in Pasig City on November 18, 2024.
A Chinese energy engineering giant has clinched the deal to help develop a portion of the massive solar farm of SP New Energy Corp. (SPNEC) in Central Luzon, with tycoon Manuel V. Pangilinan confident that the project would be finished “on time.”
SPNEC told the local bourse Tuesday that its subsidiary Terra Solar Philippines, Inc. (TSPI) had inked the engineering, procurement and construction contract with China Energy Engineering Group Co., Ltd (Energy China) for the development of one block at the farm, which would also house the energy storage system of the project.
“We welcome the partnership with Energy China and we are confident that we can drive this project to completion, on time and beyond expectation,” Meralco chair and CEO Manuel V. Pangilinan said in the filing
SPNEC, through TSPI, is leading the development of the P200-billion Terra Solar project in Nueva Ecija and Bulacan. It serves as Meralco PowerGen Corp.’s renewable energy vehicle.
Energy China, meanwhile, has been present in more than 140 countries, spearheading major projects such as the Three Gorges Dam, South-to-North Water Diversion Project, West-East Power Transmission Project and West-East Gas Pipeline Project.
Under the deal, the China-based group as well as its affiliates would focus on the procurement, design, engineering, permitting, manufacturing, testing, logistics and onsite delivery of the components needed for the project.
The agreement also entails warranty coverage to immediately fix any issues. Energy China is also tasked with the implementation of operational and maintenance protocols.
The Chinese firm is seen to help Meralco group integrate the Terra Solar project seamlessly into the national grid.
“This partnership is more than just a business deal — it is a catalyst for progress and development. Through this collaboration for Terra Solar, we aim to accelerate the nation’s energy transition journey and contribute to a cleaner, more sustainable future,” said Manny V. Rubio, president and CEO of MGEN.
The first phase of the Terra Solar project, with a target capacity of 2,500 megawatts (MW), is eyed for completion by 2026. The second phase with a capacity of 1,000 MW may go online by 2027.
