Solar Philippines said Tuesday it is working to deliver its commitments under the Green Energy Auction Program and other power supply agreements that will support its 10 gigawatts of projects under development.
It issued the statement after the Department of Energy released the results of the GEAP, showing that Solar Philippines won 70 percent of the auction’s renewable energy capacity (1,380 MW of 1967 MW) and 91 percent of all solar capacity (1,350 MW of 1,490 MW).
“We were fortunate to have been at the right place at the right time, developing these projects since 2016. Now we have contracted this capacity, we look forward to working with other companies and stakeholders to deliver these projects and help achieve our country’s targets for renewable energy,” said Solar Philippines founder Leandro Leviste.
The company’s 10-GW power projects are expected to start operations from 2025 to 2026.
Solar Philippines said it was securing the contracts on the projects, including those in the recently concluded GEAP.
“When we began talking about 10 GW, many were in disbelief because the total installed solar capacity of the Philippines last year was just over 1.1 GW. But we hope that having contracts for the majority of 10 GW has now made this plausible,” Leviste said.
Solar Philippines said that under GEAP, it would supply 500 MW from subsidiary Solar Philippines Nueva Ecija Corp., with the rest coming from projects under entities that SPNEC would own after its asset-for-share swap with the parent company.
These include projects with a total of 1,800 MW planned capacity such as the Tarlac-2 400 MW Solar Farm, the Quezon 800-MW Solar Farm, the Leyte 400-MW Solar Farm and the GenSan 200-MW Solar Farm.
This would bring the total capacity of substantially contracted Solar Philippines projects to over 6 GW (6,000 MW), including the 3.5-GW (3,500 MW) solar and 4.5 gigawatt-hour battery Terra Solar project, which would supply Manila Electric Co. 850 MW of mid-merit requirement.
Solar Philippines said Meralco contracted another 200 MW of projects from the company.