Leandro Leviste offers to contract Solar PH’s 10 GW solar power projects

Solar Philippines announced Monday that it had submitted offers to contract its 10 gigawatts (10,000 megawatts) of solar power projects under development.

According to Solar Philippines founder Leandro Leviste, these offers are pending the approval of off-takers and regulators.

“While we have been constrained from commenting on our projects due to ongoing contracting processes, we look forward to sharing more details in the coming days to give a better picture of what Solar Philippines Nueva Ecija Corp. (SPNEC) will look like after the asset-for-share swap,” said Leviste.

He said Solar Philippines would potentially have nine terawatt-hours (TWh) per year of contracted energy if the contracts were approved, which would serve as a critical mass of demand enabling the 10 GW of solar developments scheduled to commence operations mostly between 2025 to 2026.

These developments are held by companies with shares subject to the asset-for-share swap between SPNEC and Solar Philippines.

The largest of these is Terra Solar Philippines, a joint venture with Razon’s Prime Infra which plans to construct 3.5 GW of solar and 4.5 GWh of battery storage to supply Meralco 850 MW from 8 AM to 9 PM on a firm basis.

Other entities include Solar Philippines Batangas Baseload Corp., which is developing up to 2 GW solar project with battery storage; Solar Philippines Central Luzon Corp., a joint venture with AC Energy; Solar Philippines South Luzon Corp. and Solar Philippines Visayas Corp.

SPNEC aims to complete the development of 10 GW of solar projects by 2025, which will help address the country’s potential power shortage and represent a significant increase from the country’s grid-connected solar capacity of 1,127.3 MW as of December 2021.