Prime Infra plans to build a 3.5GW/4.5GWh large-scale battery solar energy storage system in the Philippines
The Philippines-based Prime Infrastructure Holdings has announced plans to build a large-scale solar farm-cum-storage project in the Southeast Asian country, comprising 3.5GW of photovoltaics backed by 4.5GWh of battery storage.
Prime Infrastructure Holdings (Prime Infra), an investment company headed by Philippine billionaire Enrique Razon, has now announced that it will build a 2.5-3.5GW solar power plant with 4-4.5GWh of battery storage to help the island nation move towards renewable energy. Transition.
Terra Solar will build the project. It is a joint venture between Razon's Prime Infra and PV module manufacturer and project developer Solar Philippines.
Manila-based Solar Philippines, the largest solar company in the country, is expected to have 400MW of projects in operation and multi-megawatt pipeline projects under construction, including a 500MW one still under construction in Nueva Ecija province, about 100km north of Manila solar power plant. The company is also working with Prime Infra to develop a 150MW solar power plant in Tarlac, about 70km west of Nueva Ecija.
No details have been provided on the cost and location of the new solar plant, with Solar Philippines only saying it will look for a suitable site in Luzon. Prime Infra CEO Guillaume Lucci described the project as a "model for the reliable renewable energy industry" and said the project would transform the renewable energy landscape in the Philippines.
"We are delighted to undertake this record-breaking project, which highlights the vital role of solar energy in strengthening the PPhilippines'energy security," he said, adding that Prime Infra is looking to take advantage of the dramatic decline in the cost of solar installations over the past decade and improvements in battery storage system technology opportunities.
"This allows the company to build an economically critical and socially relevant infrastructure on a scale unprecedented in the world," "he said, stressing that the project is backed by a long-term power purchase agreement with Manila Electric Company (Meralco). The Philippines energy retailer has entered into a 20-year off-take agreement for 850MW of renewable energy per year. The agreement stipulates that 600MW of this will be delivered by 2026, and the remaining 250MW will be delivered in 2027.
Figures released by Terra Solar show that 850MW of electricity will replace the annual consumption of around 1.4 million tonnes of coal and 930,000 liters of oil, reducing carbon emissions and reducing the country's reliance on imports between 2026 and 2046.
About 57% of the electricity comes from coal. Still, in recent years, the Philippines has vigorously promoted the development of renewable energy projects aimed at reducing its reliance on fossil fuels and thus achieving its goal of reducing greenhouse gas emissions. The country wants to increase the share of renewables in the energy mix to 35% by 2030 from 21% in 2020 to 50% by 2040. Renewable energy in the country currently accounts for 29.1% of installed capacity.
Meralco operates transmission operations in metropolitan Manila and nearby provinces and expects to achieve 1.5GW of renewable energy capacity by 2027. Meralco is "initiating a rational, orderly, and affordable transition to clean and environmentally friendly energy," "company president Manuel Pangilinan said in a statement.
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