SP New Energy Corp.'s Massive Renewable Energy Project in Philippines

SP New Energy Corp. (SPNEC) is accelerating the development of its P200-billion Terra Solar Project, touted as the "world's largest solar farm," in the provinces of Nueva Ecija and Bulacan in the Philippines.

• The project involves the installation of over 5 million solar panels with a capacity of 3500 MW and 4000 MWh of battery storage.
• It is being implemented by SPNEC's subsidiary, Terra Solar Philippines Inc.
• The site clearing process has begun, covering approximately 3,500 hectares in Nueva Ecija and Bulacan.

Renewable Energy Generation Targets in Philippines

The Terra Solar Project in Central Luzon is expected to generate over 5 billion kWh of electricity annually, accounting for an estimated 5 percent of the total volume of the Philippine grid and 12 percent of its total demand.

Project Timeline and Expedited Development

The first phase of the Terra Solar Project is scheduled to be delivered by the first quarter of 2026. To meet this timeline, SPNEC is expediting its site clearing activities ahead of the construction of the project's interconnection facilities with the national grid and the installation of over 5 million solar panels.

Land Acquisition and Existing Installations

• SPNEC has secured more than 3,000 hectares for its projects in Nueva Ecija and Bulacan, centered around the pasturelands in the town of Peñaranda.
• The company has already completed the solar panel installation for the first of its Nueva Ecija solar developments in the same town.

Size Comparison and Significance in Philippines

SPNEC claims that the Terra Solar Project will be larger than India's Bhadla Solar Park and China's Golmud Solar Park, currently the world's largest solar farms at over 2.2 GW. Additionally, it will exceed the capacity of all grid-connected solar projects operating in the Philippines combined, which currently stands at over 1.5 GW according to the Department of Energy's latest figures as of 2023.

Investment and Partnership

This development came after MGen Renewable Energy Inc. (MGreen), the renewable energy development arm of Meralco Powergen Corp. (a wholly-owned subsidiary of the Manila Electric Co.), completed its P15.9-billion investment in SPNEC. This infusion will be used for the Terra Solar Project.