The Philippines-based Prime Infrastructure Holdings has announced plans to build a large-scale solar farm-cum-storage project in the Southeast Asian country, comprising 3.5GW of photovoltaics, backed by 4.5GWh of battery storage.
The project will be built by Terra Solar. It is a joint venture between Razon's Prime Infra and PV module manufacturer and project developer Solar Philippines.
Manila-based Solar Philippines, the largest solar company in the country, is expected to have 400MW of projects in operation and multi-megawatt pipeline projects under construction, including a 500MW one still under construction in Nueva Ecija province, about 100km north of Manila solar power plant. The company is also working with Prime Infra to develop a 150MW solar power plant in Tarlac, about 70km west of Nueva Ecija.
No details have been provided on the cost and location of the new solar plant, with Solar Philippines only saying it will look for a suitable site in Luzon.
The Philippines' largest energy retailer has entered into a 20-year off-take agreement for 850MW of renewable energy per year. The agreement stipulates that 600MW of this will be delivered by 2026 and the remaining 250MW will be delivered in 2027.
Figures released by Terra Solar show that 850MW of electricity will replace annual consumption of around 1.4 million tonnes of coal and 930,000 litres of oil, reducing carbon emissions and reducing the country's reliance on imports between 2026 and 2046.
About 57% of the Philippines' electricity comes from coal, but in recent years, the Philippines has vigorously promoted the development of renewable energy projects aimed at reducing its reliance on fossil fuels and thus achieving its goal of reducing greenhouse gas emissions. The country wants to increase the share of renewables in the energy mix to 35% by 2030 from 21% in 2020 and to 50% by 2040. Renewable energy in the country currently accounts for 29.1% of installed capacity.
