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SP New Energy Corp. (SPNEC) has initiated preparations for the construction of Terra Solar Philippines, Inc.’s solar project in Nueva Ecija and Bulacan, marking the commencement of site clearing for the 3,500-hectare solar endeavor.
Upon completion, this solar project, owned by SPNEC subsidiary Terra Solar, aims to become the world’s largest. The first phase, scheduled for completion in Q1 2026, involves accelerated site-clearing efforts, grid connections, and the installation of over five million solar panels.
The project, estimated at P200 billion, plans to generate 3,500 megawatts of solar power and store 4,000 megawatt-hours using battery storage, contributing significantly to the Philippine grid.
This endeavor surpasses the capacities of current solar farms globally and all grid-connected solar projects in the Philippines combined. The accelerated project timeline aligns with the recent P15.9 billion investment by MGen Renewable Energy, Inc. (MGreen) in SPNEC, enhancing the potential for project execution.
MGreen, Meralco Powergen Corp.’s renewable energy arm, is a subsidiary of Manila Electric Co., the largest private electric distribution utility in the Philippines. |
