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Solar Philippines takes another step towards rapidly increasing its renewable capacity in the country. It is partnering with one of the top projects in the world and aims to meet growing energy demand as well as a shift away from coal.
According to the statement, the firm submitted energy contract proposals that, if approved and accepted by regulators and customers, could potentially amount to 9 Terrawatt-hours per year and allow a list of 10 gigawatts to continue. These developments will be operated mainly between 2025 and 2026.
According to the company, planned facilities could help alleviate a power shortage and greatly increase the nation’s ability to generate renewable energy. According to the statement, 1,127 megawatts was the Philippines’ grid-connected solar capacity as of the end of the last year.
According to the data, the Philippines receives 57% of its electricity through coal. This is equivalent to 29 million tonnes of high-quality fuel.
Enrique Razon, a billionaire who owns Solar Philippines, is investing in 3.5 gigawatts worth of solar power and 4.5 gigawatts of hours of battery storage. Although the company claimed that this development is the largest in the world, the data indicates that other projects, including those in India, Australia, and China, have more potential.
Another unit is currently developing a 500-megawatt, northerly-facing solar farm in Nueva Ecijia. The firm also has joint ventures with Ayala Corp.