Solar Philippines secures 70% of government’s RE auction

It also won 91% of all solar capacity.

Solar Philippines has won 1,380 megawatts (MW) out of 1,967MW renewable capacity through bidding led by the Philippines’ Department of Energy, which would support its target to contract developments with a total of 10 gigawatts (GW) capacity.

In a statement, the company said it has also bagged 91% of all the solar capacity or 1,350MW out of 1,490MW.

A part of the project will be sourced from the first 500MW that is being developed by Solar Philippines Nueva Ecija Corporation (SPNEC), whilst the remaining will be taken from projects under entities that would be owned by SPNEC after the asset-for-share swap with the parent company.

These projects have a total 1.8 GW planned capacity coming from the Tarlac-2 400MW Solar Farm; the Quezon 800MW Solar Farm; the Leyte 400MW Solar Farm; and the GenSan 200MW Solar Farm. 

This will bring the company’s contracted projects to over 6GW, 3.5GW of which are from solar, 4.5GW-hours battery Terra Solar project, which is eyed to supply Meralco 850MW of mid-merit. There are also another 200MW of projects with Meralco, and over 175MW that are already operational.

Solar Philippines has yet to disclose at least one more power supply offer.

The company said that this would complete the potentially nine terawatt-hours contracted energy per year which would contribute to its 10GW of developments scheduled to commence operations between 2025 to 2026.