- Prime Infra says its JV with Solar Philippines is set to build the world’s largest solar power plant and storage facility
- It will have between 2.5 GW to 3.5 GW solar along with 4,000 MWh to 5,000 MWh storage capacity
- Of this, 850 MW solar power capacity will be supplied to Meralco under a 20-year power supply agreement
Terra Solar Philippines, a joint venture between Solar Philippines and Prime Infrastructure Holdings, wants to establish what it touts as the world’s ‘largest’ solar power facility with 2.5 GW to 3.5 GW capacity accompanied by 4,000 MWh to 5,000 MWh storage capacity in the Philippines.
In January 2022, power utility Manila Electric Company (Meralco) launched an expression of interest (EOI) for companies to challenge PHP 6.08 per kWh bid offered by Terra Power for 2.5 GW solar and 4,000 MWh storage capacity out of which 850 MW the utility would have contracted. But no bids came in response, leading Meralco to relaunch the EOI in April 2022 (see Philippines’ 850 MW AC RE Auction Relaunched).
According to Prime Infra, there were 2 entities challenging the bid but both failed to submit which paves the way for Terra Solar to proceed with the 20-year power supply agreement with Meralco for 850 MW.
Of the 850 MW contracted supply, 600 MW will be available by 2026 and remaining 250 MW will be delivered in 2027. The power supply contract will remain into effect from 2026 to 2046.
“We, at Prime Infra Group, are delighted to move forward with Meralco on this record-breaking project that highlights solar power’s important contribution to strengthening the country’s energy security — solar, which is normally looked at for peaking, is now being made available by Terra Solar to answer Meralco’s mid-merit requirement, thereby addressing both the need for additional capacity and compliance with RPS,” stated Prime Infra President and CEO Guilaume Lucci.
For Meralco, this contract will help displace around 1.4 million tons of coal, bringing down its GHG emissions as well as import dependency for Philippines.
