Blueleaf Energy, a portfolio company of Macquarie’s Green Investment Group, and local renewable energy firm SunAsia signed a partnership agreement to develop 1,250 megawatts of solar projects in Luzon.
The partnership signed this week coincides with the growth forecast for the Philippine solar energy market.
“We are pleased to partner with SunAsia to drive forward Philippines’ green energy transition. This marks another milestone as we partner with reliable, strategic local developers to expand the solar industry across Asia,” Sol Proops, interim chief executive of Blueleaf Energy, said in a statement Thursday.
The Philippines is increasingly focused on renewable energy, and targets the delivery of an additional 10,000 MW of solar energy by 2030, which would be in excess of 20 percent of the energy mix.
Blueleaf Energy is a leading solar energy company dedicated to developing high-quality projects. Over the past 20 years, Blueleaf has developed, built and operated almost 2,000 MW (2GW) of solar capacity across the globe, including over 500 MW in the Asia Pacific region and 250 MW in the Philippines.
The partnership brings together Blueleaf’s financial and deep in-house technical capabilities and SunAsia’s local development experience. The collaboration is poised to significantly contribute to the achievement of Philippines’ renewable energy goals.
“With BlueLeaf Energy as our partner, we are in a stronger position today in helping the industry attain the renewable energy targets set by the implementation of the country’s Renewable Portfolio Standards,” SunAsia chief executive Tetchi Capellan said.
“This cooperation raises the bar of project development work in the country as the partnership offers the renewable energy market innovative solar solutions that are both viable and appropriate to local conditions,” Capellan said.
SunAsia Energy is a renewable energy development company in the Philippines with strong track record in implementing solar energy projects.
Since its inception in 2013, the company has worked with partners in delivering clean energy projects such as a solar power plant in Cebu.
SunAsia specializes in innovative solutions holding an exclusive license to operate the biggest floating solar pilot project in the town of Bay in Laguna Lake.