Fund raising to complete solar farm

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Solar Philippines Nueva Ecija Corp. (SPNEC) is allocating proceeds from its capital raising activities to complete securing at least 2,500 hectares in Nueva Ecija and Bulacan for a planned 3.5 GW solar farm.

This would mark SPNEC’s expansion of operations in the same area of the land secured for its 500 MW solar project. The first 50 MW and the transmission for the full 500 MW are under construction.

SPNEC said the combined developments in this area would surpass the capacity of India’s Bhadla Solar Farm, currently the world’s largest farm at over 2.2 GW. It will also surpass the capacity of the total grid-connected solar operating in the Philippines as of the end of 2021 at over 1.3 GW.

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“This scale is enabled by Solar Philippines having been consolidating land and permits for this project since 2016, when it applied for its first Department of Energy (DOE) solar energy service contract in this area,” SPNEC said.

SPNEC said the clustering of projects in the same area supports the development of transmission, which would extend over 60 kilometers to connect to grid’s substations that supply the Greater Manila Area. – Ruelle Castro

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