In a groundbreaking move, SP New Energy Corporation (SPNEC) has officially commenced the development of what is touted as the “world’s largest solar project” in the Philippines, as announced on Monday.
The colossal solar venture is spearheaded by SPNEC’s subsidiary, Terra Solar Philippines, Inc., marking a significant leap towards sustainable energy solutions in the region. The expansive solar initiative spans over 3,500 hectares of land in Nueva Ecija and Bulacan, with clearing operations already underway, according to SPNEC vice chairman Leandro Leviste. More than 5 million solar panels are slated to be installed, with concurrent efforts focused on constructing the project’s interconnection with the national grid.
Leviste outlined the ambitious timeline, stating, “The first phase of the project is scheduled to be delivered by the first quarter of 2026. To meet this timeline, SPNEC is expediting its site clearing activities.” The Terra Solar project will be centered around Peñaranda, Nueva Ecija, with the completion of solar panel installations for the first phase already achieved in the same town.
The grand scale of the project aims for 3,400 megawatts of solar panels and an impressive 4,000 megawatt-hours of battery storage, amounting to a substantial investment of P200 billion. Once operational, SPNEC estimates an annual generation of approximately 5 billion kilowatt-hours (kWh), constituting around 5% of the total volume of the Philippine grid and fulfilling 12% of the country’s total energy demand.
In comparison to global benchmarks, the project’s magnitude surpasses renowned solar parks such as India’s Bhadla Solar Park and China’s Golmud Solar Park, both currently the world’s largest solar farms at over 2.2 GW. Furthermore, the anticipated capacity of SPNEC’s project exceeds the combined output of all grid-connected solar projects in the Philippines, totaling over 1.5 GW, as reported by the energy department.
This significant development follows MGen Renewable Energy, Inc.’s (MGreen) completion of a P15.9-billion investment in SPNEC on December 27, 2023. The collaboration reinforces the commitment to advancing renewable energy initiatives and positions SPNEC at the forefront of sustainable energy production in the Philippines.