Clean-technology company SunScout Holding Limited has signed a memorandum of understanding with Philippine renewable energy developer Alta Renewables to develop, own, and operate an 87.5 MWp solar-plus-storage portfolio in the Philippines. The agreement marks SunScout’s first major venture following its listing on the NYSE American and NYSE Texas stock exchanges.
Under the partnership, SunScout will finance the full construction cost of the initial portfolio, estimated at approximately $87.5 million, equivalent to about $1 million per MWp. The company will retain ownership of the completed projects and operate them under 20-year fixed-price power supply agreements.
Alta Renewables will serve as SunScout’s local co-development and operations partner. Its responsibilities will include securing permits, managing relationships with regional electric cooperatives, and overseeing day-to-day plant operations. Alta will also have the option to invest up to 33% of the equity in each project.
The initial portfolio includes four shovel-ready solar projects located in Aklan, Laguna, Iloilo, and Zambales. Each facility will combine solar generation with energy storage systems and supply electricity to local electric cooperatives under long-term agreements. Power prices are expected to reach up to PHP 6.00 per kWh, while the projects are targeting a minimum internal rate of return of 10%.
Following commercial operation, SunScout plans to arrange project-level debt financing covering approximately 70% of construction costs. The strategy is expected to help the company recycle capital into additional developments while maintaining long-term ownership and recurring cash flows from operating assets.
The companies also intend to negotiate a broader framework agreement that could make Alta Renewables SunScout’s preferred development partner for future projects across the region. Alta currently has a development pipeline of more than 230 MW. An expansion planned for the Iloilo project could increase SunScout’s total portfolio capacity to 112.5 MW.
Both companies described the agreement as a build-own-operate model that combines Alta’s ready-to-build development pipeline and local expertise with SunScout’s capital resources.
The partners expect to finalize definitive agreements by late August. Financial close for the first project is targeted for the fourth quarter of 2026, subject to completion of due diligence and required board approvals.
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