By: Andrea Eleanor Cabaron
Photo Source: Power Philippines News
President Ferdinand "Bongbong" Marcos Jr. led the launching ceremony for the Meralco Terra Solar Project, a renewable energy project in Peñaranda, Nueva Ecija on Thursday, Nov. 21.
The venture is a collaboration between Meralco PowerGen Corporation (MGen) and SP New Energy Corporation (SPNEC), formed to redefine the Philippines’ renewable energy landscape, marking a big step toward the country’s renewable energy (RE) future.
According to Marcos, the project would energize over two million households and reduce carbon emissions by more than 4.3 million metric tons annually once fully operational by 2027.
The Terra Solar project will be the largest single-site solar and battery facility in the world, with a planned capacity of 3,500 megawatts (MW) of solar power and 4,000 megawatt-hours (MWh) of battery storage, expected to supply clean, renewable energy to Luzon and reduce dependence on fossil fuels.
Marcos added that the project will also help in stabilizing the power supply, reducing energy costs, and contributing significantly to the target of 35% renewable energy share in the power generation mix by the year 2030.
“Numbers alone fail to articulate the full significance of this project, we are making a statement today that the Philippines is not only keeping pace with the global energy transition but more so express our intention, the Philippines’ intention to lead the migration from thermal to renewables,” Meralco chairman and chief executive officer Manny V. Pangilinan stated.
This project is expected to not only provide clean energy but also generate employment and economic opportunities for local communities and generate nearly Php 23 billion in local economic benefits.
''It is estimated that the project will create over 10,000 jobs, certainly it will stimulate local economies, and open countless opportunities for growth and development in those communities,'' Marcos Jr. said.
“Projects like Terra Solar bring us closer to that vision of a steady, reliable power supply that will meet the demands of today and fuel our ambitions for tomorrow,” Marcos Jr. concluded.
Secretary Raphael Perpetuo Lotilla echoed Marcos, calling the project a decisive step in enhancing energy security and economic development.
The Terra Solar project will be integrated with advanced Battery Energy Storage System (BESS) technology, which stores the remainder of energy during peak sunlight hours for use during off-peak periods, guaranteeing grid stability.
The TSPI awarded an Engineering, Procurement, and Construction (EPC) contract to Energy China, also known as the China Energy Engineering Group Co. Ltd. as its contractor.