Enrique to set up solar power facility

Enrique Razon’s infrastructure investment division has announced that it plans to construct the solar power facility, joining a growing number of local companies embracing the development of renewables.

The facility will have a capacity of 2,500-3,500 megawatts combined with a 4,000MWh to 4,500MWh battery energy storage system.

The project will be undertaken by Terra Solar Philippines in partnership with Solar Philippines Power Project Holdings Inc.

Terra Solar will sell 850 MW of the facility’s output to Manila Electric Company.

The Southeast Asian country has made a big push for renewable energy projects as it seeks to lessen its dependence, particularly on coal in power generation, in line with its goal to reduce greenhouse gas emissions.

The government aims to increase the share of renewables in the power mix to 35% by 2030, from 21% in 2020, and to 50% by 2040.

Solar Philippines Nueva Ecija Corp, which raised 2.7bn pesos (USD 51M) from an initial public offering, said it was aiming to build the largest solar farm in Southeast Asia with an initial capacity of 500 MW.

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