Singapore-based Gurīn Energy, a key player in renewable energy across Asia, has confirmed the financial close for its 75-megawatt (MW) solar farm situated in Palauig, Zambales Province, the Philippines. Spanning an expansive 80-hectare area, the farm will integrate approximately 136,363 ground-mounted, energy-efficient solar photovoltaic panels.
The project’s groundwork commenced earlier in 2023, and groundbreaking is slated for later this month, with the anticipated commissioning by the third quarter of 2024. This initiative is projected to generate over 550 employment opportunities throughout its lifecycle.
Once operational, the solar farm aims to provide clean, zero-emission electricity, capable of powering more than 35,500 homes annually. Additionally, it is anticipated to mitigate 53,100 metric tons of climate-altering emissions each year, akin to removing 11,500 combustion-engine cars from the roads annually. Gurīn Energy emphasizes this move as a crucial step towards their commitment to transitioning Asia to 100% renewable energy to combat climate change.
Reden Garcia Rodriguez, Gurīn Energy’s Country Manager in the Philippines, expressed satisfaction at achieving this milestone, highlighting the significance for the company’s foothold in the country. Rodriguez extended gratitude to partners, including Union Bank of the Philippines, and various national, provincial, and municipal authorities for their unwavering support.
The financial close, achieved through a collaborative partnership approach and a comprehensive investment process, will culminate in a total investment of USD 60 million.
This Palauig Solar Power Plant marks Gurīn Energy’s first solar project in the Philippines to secure financial closure and is part of the company’s expanding 7-gigawatt portfolio across Asia.
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