{"id":103499,"date":"2024-11-27T02:05:00","date_gmt":"2024-11-27T01:05:00","guid":{"rendered":"https:\/\/www.sonnenseite.com\/?p=103499"},"modified":"2024-11-26T12:06:29","modified_gmt":"2024-11-26T11:06:29","slug":"worlds-largest-pv-and-battery-project-launched-in-the-philippines","status":"publish","type":"post","link":"https:\/\/www.sonnenseite.com\/en\/energy\/worlds-largest-pv-and-battery-project-launched-in-the-philippines\/","title":{"rendered":"World’s largest PV and battery project launched in the Philippines"},"content":{"rendered":"\n
MTerra Solar Project Breaks Ground: A Monumental Milestone in the Philippines\u2019 Renewable Energy Transition.<\/p>\n\n\n\n
Terra Solar Philippines, Inc. (TSPI), together with Meralco PowerGen Corporation (MGEN) and SP New Energy Corporation (SPNEC), officially broke ground for the MTerra Solar Project \u2014 the world\u2019s largest integrated solar and battery storage facility. President Ferdinand R. Marcos Jr. and Meralco Chairman and CEO Manny V. Pangilinan (MVP) co-led the groundbreaking ceremony, alongside leaders from Meralco, MGEN, SPNEC, and Actis.\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n
\u201cToday we take a leap towards the future driven by innovation and sustained by our collective hope for a cleaner and greener Philippines. We stand together at the site of what will become the largest integrated solar and battery storage facility in the world \u2013 the Terra Solar Project. This landmark project will put our country on the map as a leader in renewable energy,\u201d<\/em> President Marcos Jr. said during the ceremony. <\/p>\n\n\n\n
\u201cThe Terra Solar power project is designed to address two critical challenges of our time: the surging demand for electricity and the pressing need to shift to renewable and sustainable sources of energy,\u201d<\/em> he added.\u202f <\/p>\n\n\n\n
With construction now in full swing, the landmark project represents a transformative leap forward in the Philippines\u2019 quest for a cleaner and more sustainable energy future. <\/p>\n\n\n\n
Spanning an impressive 3,500 hectares (almost the same size as Pasig City) across Nueva Ecija and Bulacan, the US$4.0 billion (over Php 200 billion) MTerra Solar Project will involve 3,500 megawatts peak (MWp) photovoltaic (PV) capacity, complemented by a 4,500 megawatt-hours (MWhr) Battery Energy Storage System (BESS) capacity. The project will be located in five towns \u2013 Gapan, General Tinio, Pe\u00f1aranda, and San Leonardo all in Nueva Ecija, and San Miguel, Bulacan. <\/p>\n\n\n\n
Upon completion, MTerra Solar is expected to supply clean energy to approximately 2.4 million households and avoid carbon emissions by an estimated 4.3 million tons annually \u2013 equivalent to removing over 3 million gasoline-powered vehicles from the roads every year. <\/p>\n\n\n\n
This milestone project aligns seamlessly with the government\u2019s goal of achieving a 35% renewable energy mix by 2030 and 50% by 2040. As of late 2023, the country\u2019s installed renewable energy capacity stands at almost 30% of total energy mix, underscoring the urgency for stakeholders to accelerate efforts toward a greener energy future. <\/p>\n\n\n\n
\u201cNumbers alone fail to articulate the full significance of this project, we are making a statement today that the Philippines is not only keeping pace with the global energy transition but more so express our intention, the Philippines\u2019 intention to lead the migration from thermal to renewables,\u201d<\/em> Mr. Pangilinan said. <\/p>\n\n\n\n
\u201cWe will build, we will take action, and we will never stop daring. At the end, this is all showing the world what Filipinos can achieve when the public and private sectors work together with focus and urgency,\u201d<\/em> he added. <\/p>\n\n\n\n
Meralco, the country\u2019s largest power distribution utility, continues to be at the forefront of renewable energy development. Through its subsidiaries, MGEN and its renewable energy arm \u2014 MGEN Renewable Energy, Inc. (MGreen), the company continues to pursue strategic initiatives to diversify the Philippines\u2019 clean energy supply and manage dependence on fossil fuels. The MTerra Solar Project exemplifies this commitment, cementing Meralco\u2019s leadership in renewable energy innovation. <\/p>\n\n\n\n
The MTerra Solar Project is set to deliver clean solar energy under a 20-year, 850 MW mid-merit power supply agreement to Meralco. The initial block of 600 MW is slated for delivery by February 2026, while the remaining 250 MW will follow in February 2027. This not only conforms with the Renewable Portfolio Standards of the Department of Energy (DOE) but also reinforces Meralco\u2019s pledge to source 1,500 MW of its power supply requirements from renewable energy. <\/p>\n\n\n\n
Prior to the groundbreaking ceremony, TSPI, acting as the investment and development vehicle for the MTerra Solar Project, has entered into a strategic partnership with UK-based Actis for a 40% interest in the project valued at US$600 million (approximately Php 34 billion) \u2014 the largest foreign direct investment for a greenfield infrastructure project in the Philippines to date. Recently, TSPI awarded the Engineering, Procurement, and Construction (EPC) contract for the project to China Energy Engineering Corporation (Energy China), a key player in global infrastructure and sustainable energy. TSPI also engaged Meralco Industrial Engineering Services Corp. (MIESCOR) to link the flagship solar development to the Luzon power grid. <\/p>\n\n\n\n
These key agreements demonstrate the project principal\u2019s drive for excellence and commitment to ensuring that project milestones are effectively executed and delivered on time. <\/p>\n\n\n\n
With its unprecedented scale and forward-thinking design, the MTerra Solar Project is a cornerstone in the Philippines\u2019 clean energy transition. Its Solar PV-BESS hybrid infrastructure ensures stable and reliable power that may compete with traditional baseload power sources. Beyond environmental benefits, the project is expected to create more than 10,000 jobs during construction, spur economic growth, and foster community development, with estimated community benefit expected to reach around P23 billion over the next 10 years through taxes, community benefits, and other indirect economic benefits. <\/p>\n\n\n\n
As the Philippines accelerates its transition toward renewable energy, the MTerra Solarproject stands as a beacon of progress, innovation, and sustainability\u2014securing the nation\u2019s energy future and powering a cleaner, greener tomorrow for the Filipino people. <\/p>\n\n\n