SPNEC Working On 4 GW Solar Farm In Philippines

Solar Philippines Nueva Ecija Corporation Planning World’s ‘Largest’ Solar PV Project

SPNEC Working On 4 GW Solar Farm In Philippines

SPNEC says its planned 4 GW project in the Philippines, for which it is currently in the process of securing land, will surpass India’s Bhadla Solar Farm that’s currently the world’s largest solar farm. (Photo Credit: Solar Philippines Nueva Ecija Corporation)

  • SPNEC is arranging funds to secure land for 3.5 GW solar power capacity in the Philippines
  • It will be in Nueva Ecija and Bulacan region where it is already working on 500 MW PV capacity
  • To source another 2,500 hectares of land for 3.5 GW PV, it is allocating proceeds from its various capital raises

Solar Philippines’ publicly listed vehicle Solar Philippines Nueva Ecija Corporation (SPNEC) is arranging funds to secure land in Nueva Ecija and Bulacan for a planned 3.5 GW solar farm, expanding the scope of land it needs for the planned 500 MW solar project in the same area.

“At 4 GW, SPNEC’s combined developments in this area would surpass the capacity of India’s Bhadla Solar Farm, currently the world’s largest farm at over 2.2 GW; as well as surpass the capacity of the total grid-connected solar operating in the Philippines as of the end of 2021 at over 1.3 GW,” stated SPNEC.

Clustering of projects in the same area will support transmission development that is expected to extend over 60 kms.

Of the 500 MW project, construction has already started for the initial 50 MW, and transmission for entire 500 MW. To source another 2,500 hectares of land for 3.5 GW PV, it is allocating proceeds from its various capital raises.

Solar Philippines Founder Leandro Leviste said, “By the end of this year, our planned share issuances should result in the consolidation of ingredients that would enable SPNEC to expand its flagship project to be the world’s largest solar farm.”

It is also in discussions with investors for private placements to complete the share issuance planned in light of its asset-for-share swap.

SPNEC explained that the share issuances include the company’s asset-for-share swap through which it will acquire shares of its parent Solar Philippine sin a number of projects, including those under joint ventures. Some of these include 4.5 GWh battery Terra Solar Project out of which Meralco is to source some energy, another 1.8 GW projects contracted under Green Energy Auction, yet another 1.8 GW solar and 1.8 GWh battery project (see Prime Infra Plans Up To 3.5 GW Solar Plant In Philippines).

About The Author

Anu Bhambhani

Senior News Editor: Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.Before joining our team, Anu worked in various positions at publications of the Times Group in New Delhi. As a Principal Correspondent, she conceptualized special features and supplements for both The Times of India and The Economic Times. While Anu delved deep into solar at TaiyangNews, environment topics have been close to her heart before. As Assistant Editor, she was responsible for launching Planet Earth for The Economic Times, a special series on environment. Before joining the Times Group, Anu was a Copy Editor at the Hindustan Times.Anu holds a Masters degree in Journalism and Mass Communications from the University of Rajasthan. She also studied at the Centre for Science and Environment in New Delhi on E-Outreach: New Media Technologies for Advocacy and Strategic Communication, Social Media

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