Tera 7 to invest in Pangasinan solar project
By Lenie Lectura – January 27, 2025
from Business Mirror
Tera Renewables 7 Corp. (Tera 7), a subsidiary of CleanTech Global Renewables Inc. (CTGRI), is putting up a solar power project in Pangasinan worth P17.62 billion.
In its environmental impact statement, the proposed Labrador 1 solar power project will have a peak capacity of 451.38 megawatt (MW), with construction envisioned to commence this year. Once completed in 2026, Tera 7 said its solar power project will offer Luzon with a reliable and affordable baseload power supply, “addressing the additional capacity required in Luzon to meet power demands annual growth rate increase.”
The Labrador 1 solar power project has been issued a solar energy operating contract by the Department of Energy (DOE) in 2023. Tera 7 is now applying for an amendment of the solar contract to include additional lands, with the project area totaling 296.45 hectares (ha) from the original 271.94 ha.
The project is expected to be commercially operational in 2026. “The construction activities are scheduled to commence in the first quarter of 2025 and will end in the first quarter of 2026. The project is targeted to be ready for commercial operations in 2026,” it said in a filing.
The electricity generated by it will be transferred through the transmission line that will connect the Bolo substation of the National Grid Corporation of the Philippines (NGCP) in Labrador, Pangasinan.
“The DOE endeavors to meet the projected energy demand while also accelerating the development of renewable energy (RE) resources to achieve a varied energy mix, with which solar power is expected to play a significant role in. This project is part of that commitment,” Tera 7 said.
