Solar Philippines called out critics of its planned 10 gigawatts (10,000 megawatts) of solar power projects following its successful bids during the Green Energy Auction Program.
Techpreneur Leandro Leviste’s Solar Philippines won 70 percent of all renewable energy capacity (1,380 MW out of the 1,967 MW) and 91 percent of all solar capacity (1,350 MW out of 1,490 MW).
“When we began talking about 10 GW, many were in disbelief because the total installed solar capacity of the Philippines last year was just over 1.1 GW. But we hope that having contracts for the majority of 10 GW has now made this plausible,” said Leviste, founder and CEO of Solar Philippines.
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“We were fortunate to have been at the right place at the right time, developing these projects since 2016. Now we have contracted this capacity, we look forward to work with other companies and stakeholders to deliver these projects and help achieve our country’s targets for renewable energy,” Leviste added.
This brings the total capacity of substantially contracted Solar Philippines projects to over 6 GW, including the 3.5 GW solar, 4.5 GWh battery Terra Solar project, which will supply Meralco 850 MW of mid-merit capacity.
The Terra Solar project, a joint venture with the Razon Group, has been touted as the “world’s largest solar project.”
Solar Philippines also has another over 200 MW of projects contracted with Meralco and is looking at another power supply contract.
The contracts will serve as a critical mass of demand for its 10 GW of developments scheduled for operations mostly between 2025 and 2026.
Solar Philippines also plans to offer its uncontracted capacity to the electricity spot market.