Solar Philippines (SP), through its joint venture with Medco Energi (Medco), has signed 20-year power purchase agreements with Indonesian state utility PLN on two solar projects.
The projects include a 25-megawatt farm in East Bali and another 25 MW in West Bali, which will be the largest ground-mounted solar project in Indonesia to date, the company said.
SP granted Solar Philippines Nueva Ecija Corp. the option to subscribe to SP’s share in the joint venture, in which it holds 49 percent, subject to regulations including securing approval from PLN.
The company began developing the Bali solar projects in 2017 and formed the joint venture with Medco to submit a bid in PLN’s first competitive auction for utility-scale solar in 2019.
The PPA was signed on March 24 with a schedule to begin construction by 2023.
