Philippine tycoon to build world’s largest solar farm
Philippines-based Prime Infrastructure Holdings, a company controlled by Filipino billionaire Enrique Razon Jr. has unveiled plans to construct the world’s largest solar power facility with a capacity of between 2,500 to 3,500 megawatts.
The facility, which will also comprise of a 4,000 to 4,500 megawatt-hours battery energy storage system, would mainly be used to provide power to the Manila Electric Company (Meralco), the country’s major electricity provider and boost the supply of renewable energy in the country.
The project will be developed by Terra Solar Philippines, a unit of Prime Infrastructure’s subsidiary Terra Renewables Holdings, together with Solar Philippines Power Project Holdings, Southeast Asia’s largest solar energy company founded by Filipino entrepreneur and businessman Leandro Leviste.
Substituting 1.4 million tonnes of coal a year
Terra Solar said it will ensure that power from the project is fully available during hours of peak demand. The company has negotiated a 20-year power supply agreement with Meralco and will deliver 850 megawatts annually, electricity generated from solar power which will substitute approximately 1.4 million tonnes of coal or 930,000 liters of oil every year.
“Prime Infra finds a sweet spot to pursue solar as we take advantage of the steep decline in installation costs over the past decade and improved battery energy storage system technology that allows us to build an economically critical and socially relevant infrastructure at a scale the world has never seen before,” Prime Infrastructure’s president and CEO Guillaume Lucci said.
Philippines-based Prime Infrastructure Holdings, a company controlled by Filipino billionaire Enrique Razon Jr. has unveiled plans to construct the world’s largest solar power facility with a capacity of between 2,500 to 3,500 megawatts. The facility, which will also comprise of a 4,000 to 4,500 megawatt-hours battery energy storage system, would mainly be used to provide power to the Manila Electric Company (Meralco), the country’s major electricity provider and boost the supply of renewable energy in the country. The project will be developed by Terra Solar Philippines, a unit of Prime Infrastructure’s subsidiary Terra Renewables Holdings, together with Solar Philippines Power...
Philippines-based Prime Infrastructure Holdings, a company controlled by Filipino billionaire Enrique Razon Jr. has unveiled plans to construct the world’s largest solar power facility with a capacity of between 2,500 to 3,500 megawatts.
The facility, which will also comprise of a 4,000 to 4,500 megawatt-hours battery energy storage system, would mainly be used to provide power to the Manila Electric Company (Meralco), the country’s major electricity provider and boost the supply of renewable energy in the country.
The project will be developed by Terra Solar Philippines, a unit of Prime Infrastructure’s subsidiary Terra Renewables Holdings, together with Solar Philippines Power Project Holdings, Southeast Asia’s largest solar energy company founded by Filipino entrepreneur and businessman Leandro Leviste.
Substituting 1.4 million tonnes of coal a year
Terra Solar said it will ensure that power from the project is fully available during hours of peak demand. The company has negotiated a 20-year power supply agreement with Meralco and will deliver 850 megawatts annually, electricity generated from solar power which will substitute approximately 1.4 million tonnes of coal or 930,000 liters of oil every year.
“Prime Infra finds a sweet spot to pursue solar as we take advantage of the steep decline in installation costs over the past decade and improved battery energy storage system technology that allows us to build an economically critical and socially relevant infrastructure at a scale the world has never seen before,” Prime Infrastructure’s president and CEO Guillaume Lucci said.
