Philippines project advancing: Terra Solar Philippines (MTerra Solar) of Meralco PowerGen Corporation (MGEN) has begun bringing online Phase I of the MTerra project in the Philippines. With 3.5 GW solar and 4.5 GWh of battery energy storage system (BESS) planned for the project, it is expected to be the world’s ‘largest’ integrated solar PV and BESS facility once fully online. MTerra says it has started initial grid synchronization and energization of 250 MW AC solar and 112.5 MWh BESS capacity out of 1.288 GW DC of solar PV and 622 BESS capacity planned for Phase I. The initial capacity will be grid-connected by the end of February 2026 when it will begin exporting 85 MW of constant power to the grid. The project is backed by Actis (see Asia Pacific Solar PV News Snippets).
Equity raise for solar and storage: Contact Energy of New Zealand has announced plans to raise NZD 525 million to advance its renewable energy projects, comprising solar, storage, and geothermal projects. Part of its Contact31+ strategy, the proceeds will enable it to secure funding for a new 200 MW/400 MWh Glenbrook Battery 2.0 project, which will expand the company’s total installed battery capacity to 300 MW in Glenbrook. It will also invest in the 150 MW AC/285 GWh Glorit Solar Farm on the Kaipara Coast near Auckland. The solar project will be online in Q3 CY2028. Contact is building the project in a joint venture with Lightsource bp.
NIKE Japan’s solar VPPA: Mitsui & Co. Ltd. has signed a virtual power purchase agreement (PPA) with NIKE Japan Group to supply the latter with Non-FIT Non-Fossil Certificates (NFC) generated from 16 solar power plants. The agreement covers 18 MW, comprising 3 MW of new solar projects and 15 MW of recently established projects in the TEPCO Power Grid region. It will enable NIKE Japan to source 100% of the electricity for its owned-and-operated facilities in Japan from renewable energy, said Mitsui.
Clean power for Nomura: Japan’s Clean Energy Connect will launch a JV with Nomura Real Estate Development to build close to 550 MW small-scale solar power plants, representing 52.5 GWh annually. Power generated will be procured by Nomura as it seeks to reduce its group-wide Scope 1 and 2 emissions by 60% by FY2030, compared to FY2019 levels.