Solar Philippines said Monday it submitted offers to substantially contract 10,000 megawatts of solar power projects. The company said these offers are pending the approval of off-takers and regulators.
It said if approved, the projects would potentially have nine terawatt-hours of contracted energy annually, which would serve as a critical mass of demand, enabling its 10 GW of power plants scheduled to commence operations between 2025 and 2026.
“While we have been constrained from commenting on our projects due to ongoing contracting processes, we look forward to share more details in the coming days and so give a better picture of what SPNEC will look like after the asset-for-share swap,” said Solar Philippines founder Leandro Leviste.
The company said aside from the planned 500-MW Nueva Ecija solar project of Solar Philippines Nueva Ecija Corp., the other developments are held by companies with shares subject to the asset-for-share swap between SPNEC and parent firm Solar Philippines.