Solar Philippines is lining up new investments with with a total capacity of over 10 gigawatts following the Department of Energy’s (DOE) moratorium on the endorsement of new coal fired power plants.
Leandro Leviste, Solar Philippines chief executive officer, said the company will also form a real estate subsidiary, will hire more professional managers and bring in additional local and foreign partners for its projects.
Leviste said the moratorium will boost interest for RE in the country.
“With these changes, we are more optimistic than ever that we and our partners can deliver a portfolio of projects that will make the Philippines a leader in the global energy transition,” Leviste said.
He did not provide details of the pipeline projects, Solar Philippines has partnerships with Korea Electric Power Corp. for a 63 megawatts (MW) solar farm in Batangas and with the Razon Group’s Prime Infra for a 200 MW solar project in Tarlac.
Solar Philippines has over 5,000 hectares of available land consolidated in Luzon that may be used for the development of up to 5,000 MW worth of solar power projects.comple
Its completed projects include the 2 MW solar-battery micro grid in Palauan, Occidental Mindoro, 1.5 MW rooftop power plant on SM North EDSA, 1.2 MW on Robinsons Place Palawan, 0.7 MW on Central Mall Biñan in Laguna and 0.6 MW on CityMall Roxas. -Jed Macapagal