Philippine renewable energy developer SunAsia Energy and Vietnam-based VinEnergo have entered into a strategic partnership to develop a 422 MW Solar-on-Water portfolio in the Philippines. This capacity will be developed in Pampanga and Negros Occidental, representing an estimated investment of $406 million. As per a company announcement, local media reports stated that the portfolio comprises 3 projects that are expected to begin commercial operations between 2027 and 2028. SunAsia will hold a majority stake in the joint venture, which will be financed through a mix of equity and bank loans.
According to SunAsia, the developments are set to be among the 1st large-scale, pile-mounted Solar-on-Water projects in the Philippines. The projects will use "Solar on Stilts" technology, which elevates solar panels on concrete pile structures above water bodies. It will allow aquaculture and fishpond activities to continue beneath the installations.
The "Solar on Stilts" concept is comparable to the "PV + Fishery" model widely deployed in China, where elevated solar arrays allow aquaculture activities to continue beneath the panels while generating renewable electricity (see China Solar PV News Snippets).
Novva Group, a Singapore-based AI-enabling energy infrastructure company, has signed an agreement to acquire 100% of the San Jose Solar Power Plant (SJSP) from Mabuhay Power Holdings Corporation in the Philippines. The 120 MW greenfield solar PV project is located in Bukidnon’s Quezon municipality in Mindanao region. Once operational, the project is expected to generate more than 200 GWh of renewable electricity annually.
Construction is scheduled to begin in the Q1 2027, with commercial operations targeted for 2028. The acquisition marks Novva’s maiden investment in the Philippines. It supports the company’s strategy to expand a regional clean energy platform that combines renewable generation, energy storage, flexible power solutions, grid connectivity and infrastructure financing. The project is also expected to contribute to the Philippines’ target of achieving a 35% renewable energy share by 2030. Novva says it will also help meet growing electricity demand from digital infrastructure and AI-driven industries in the country.
UK-based Lightsource bp and its local New Zealand-based partner Contact have announced financial close on their 171 MW DC/150 MW AC Glorit Solar Farm. Located in the Aotearoa region of New Zealand, the project has both Lightsource bp and Contact as 50:50 partners. They raised NZD 285 million of non-recourse financing for the facility with funds secured from ANZ, Mizuho, Bank of China New Zealand, China Construction Bank New Zealand, Deutsche Zentral-Genossenschafts Bank.
The project will now enter construction stage, to be undertaken by INTEC Energy Solutions and COMPLANT. It is scheduled to start commercial operations in H2 2028. The project partners have secured consent to include a DC-coupled battery energy storage system (BESS) and firming capability in the future.
Both Lightsource bp and Contact are gearing up to deliver 168 MW DC Kōwhai Park Solar Farm in Christchurch later this year. The project is located at Christchurch International Airport Limited.
Leading solar PV and energy storage integrated manufacturer Trinasolar has announced its maiden commercial order for self-developed perovskite/crystalline silicon tandem PV modules with a high-end distributed customer in New Zealand. The company claims this order marks the 1st time a Chinese tandem technology product has successfully entered the global high-end residential market.
The tandem modules to be delivered are based on Trinasolar's 900W+ tandem technology system which it claims reduces overall BOS cost of PV systems by 15% to 20%. According to the manufacturer, the product has completed standardized industrial module product development to meet residential PV specifications. Trinasolar stated that this order validates the adaptability and competitiveness of its tandem products in the global high-end distributed market.
The European Commission has approved the creation of a joint venture between TotalEnergies and Masdar under the EU Merger Regulation. The partnership will focus primarily on renewable energy projects across the Asia-Pacific region. The Commission said the transaction is unlikely to raise competition concerns due to its limited impact on the European Economic Area and reviewed it under the simplified merger procedure.
The 2 companies had announced partnership for the JV in April 2026 to merge their onshore renewable energy business across 9 Asia countries. It includes 3 GW of operating assets and 6 GW in advanced development. The JV will be headquartered in Abu Dhabu Global Market (ADGM) (see Masdar, TotalEnergies Form $2.2 Billion Asia Renewables JV).
NZ Clean Energy (NZCE) has entered a long-term VPPA with New Zealand dairy co-operative Fonterra to provide the latter with flexible, cost-effective access to renewable electricity. Fonterra will be able to use the same to manage electricity price risk at its Darfield site and other manufacturing operations in the region. NZCE will honor the agreement from its 129 MW Darfield Solar and Energy Storage Project, located near Fonterra’s Darfield manufacturing site in Canterbury. The project is estimated to generate 218 GWh annually.
Fonterra is investing in the project as it transitions away from fossil fuels to renewable energy sources as part of its decarbonization strategy. Fonterra’s COO Anna Palairet said, “Solar is a good fit for our operations, with generation aligning well to the peak of the milk season. This agreement helps bring new generation to market while at the same time giving us long term price certainty.” NZCE sees the direct partnership with large energy users through long-term PPAs as a model it can replicate across the country. NZCE is a portfolio company of Australian investment manager Foresight Group. The deal was announced in March 2026 (see Foresight Group Enters New Zealand RE Market With NZCE Acquisition).
Japanese industrial manufacturer NSK Ltd. has entered into a virtual power purchase agreement (VPPA) with ENEOS Renewable Energy for its decarbonization goals. Under the agreement, NSK will purchase the environmental value generated by a large-scale solar power plant equipped with battery storage in Japan’s Kyushu region. The project. For this, ENEOS will install approximately 130 MWh of battery storage at its 54 MW solar power plant site in Kyushu region. It will provide NSK with non-FIT non-fossil fuel certificates equivalent to the plant’s renewable energy output or around 65 million kWh/year, for 15 years. NSK estimates the agreement to help reduce its annual carbon emissions by approximately 27,000 tons as it targets to achieve carbon neutrality for Scope 1 and Scope 2 emissions by fiscal year 2035.