Philippines may terminate 50-plus solar projects for missing deadlines
The Philippines’ Department of Energy says that at least 105 renewable energy projects, including 53 solar projects, face termination for failing to comply with timelines.
Philippines’ large-scale PV market sees project size largely increase
Philippines’ Department of Energy cleared 29 utility-scale solar projects in the January-August period. Most of them have a capacity of more than 180 MW and four of them even exceed 500 MW. The list also includes eight floating projects each exceeding 100 MW.
Solar pipeline in Philippines’ Visayas region hits 760 MW
Figures from the Philippines Department of Energy (DOE) show that 1.98 GW of renewable energy projects are under construction on the archipelago of Visayas, with solar accounting for more than one-third of the capacity.
Actis invests in 3.5 GW/4.5 GWh of solar-plus-storage in Philippines
Private equity investor Actis has become a strategic partner in a 3.5 GW/4.5 GWh solar-plus-storage project in the Philippines. The project is poised to become the world’s largest integrated renewables and energy storage installation upon completion. Actis is investing $600 million for a 40% equity stake.
Clime Capital invests $10 million in PV developer in Philippines
Singapore-based fund manager Clime Capital is investing up to $10 million in Upgrade Energy Philippines (UGEP). The money will go toward supporting commercial and industrial (C&I) and utility-scale solar deployment.
Meralco unit increases stake in Philippines’ largest PV developer
Meralco PowerGen Corp (MGen) has acquired an additional 5.8 billion shares in SP New Energy Corp. (SPNEC) for PHP 7.5 billion ($133.8 million). It now holds a 50.5% stake in the business.
Lightweight mobility with vehicle-integrated photovoltaics
A European consortium of commercial and research groups is developing lighter weight, solar-powered, cost-conscious, three and four-wheel prototype vehicles for passengers and cargo. The $13.4 million project aims for a platform that has standardized components, including the battery, powertrain, and solar PV parts, as well as support for end-of-life, maintenance, and refurbishment.
Vena Energy moves ahead with 550 MW of solar in the Philippines
Singapore’s Vena Energy and MGen Renewable Energy, the renewables unit of Manila-based Meralco PowerGen Corp., have signed an investment agreement for 550 MW of solar in the Philippines. Construction is due to start later this year.
Philippines fast-tracks world’s largest solar park with green lane certificate
The Board of Investments of the Philippines has granted a green lane certificate to a solar project that is being touted as the largest in the world to date. The accreditation will facilitate easier approval and processing of permits.
Philippines announces renewables, energy storage auction
The Philippines’ Department of Energy (DOE) has said that energy storage and maximizing the country’s existing renewable energy infrastructure will be a major theme for its next green energy auction. GEA-4 will take place in the final quarter of 2024.
