RENOVA Secures 20-Year Power Sales Contract For 85 MW Solar Project In The Philippines

RENOVA, Inc. (Headquartered in Chuo-ku, Tokyo; Representative Director, President & CEO: Yosuke Kiminami) has announced that it has been awarded a 20-year fixed-price electricity sales contract for its 85 MW AC solar power generation project under development in the Visayas Region of the Republic of the Philippines. The award was secured under the Green Energy Auction Program (GEAP) 4, a competitive initiative launched by the Philippine government to accelerate the country’s transition toward renewable energy.

The Visayas solar project marks RENOVA’s first solar power venture in the Philippines and will be jointly developed with Victorias Green Energy Corp. (VGEC), a local renewable energy company. This collaboration underscores RENOVA’s growing commitment to expanding its global renewable energy portfolio and supporting emerging markets in achieving sustainable energy independence.

The Philippines, one of the fastest-growing economies among ASEAN countries, is witnessing a rapid rise in electricity demand that outpaces its economic growth. In response, the Philippine Department of Energy’s 2022 Energy Plan has set an ambitious goal to increase the share of renewable energy in the national energy mix to over 50% by 2050. The GEAP plays a central role in achieving this vision by providing a transparent, competitive mechanism for renewable energy procurement. The 20-year power supply agreement secured through this auction offers long-term stability for developers and investors, enabling greater confidence in project execution and financing.

For RENOVA, this milestone represents a major advancement in its strategic expansion into Southeast Asia and a concrete step toward achieving its Medium-Term Management Plan 2030 targets—specifically, reaching 5.0 GW of total installed capacity, including 1.8 GW from overseas projects. The company continues to drive initiatives that support global decarbonization, combining renewable power generation with storage battery businesses and other green innovations.

Guided by its corporate mission to “create green and sustainable energy systems for a better world,” RENOVA aims to fully leverage its technological expertise, project development experience, and partnerships to help accelerate the global shift to clean energy. Through the Visayas solar project, RENOVA reaffirms its dedication to advancing renewable adoption and fostering a sustainable energy future for the Philippines and beyond.