The Philippines Board of Investments (BOI) has granted a “green lane certificate” for a solar and storage project set to be the world’s largest.
This certificate will help facilitate quicker construction of the Terra Solar project, which plans to combine 3,500MW of solar PV with a BESS of 4,500MWh. As such, the completion of phase 1 is targeted for February 2025, but the expected size at this date has not been released.
Phase 2’s completion is set for 2026.
Further details
Terra Solar’s site will be located in the Bulacan and Nueva Ecija provinces, over 3,500 hectares of land, and cost USD$3.2bn – earning it the reputation of the world’s largest joint solar and storage project by capacity.’
The project has also received a Certificate of Energy Project of National Significance (CEPNS), awarded to any project in the Philippines worth over USD$59m.
The BOI has approved several other renewable energy initiatives, such as PHP263m worth of rooftop solar projects, a PHP114.7bn offshore wind projects, and a PHP297bn hydroelectric power project.
Terra Solar is under the stewardship of independent power producer (IPP) Terra Solar Philippines, co-owned by utility company Manila Electric Company (Meralco) and SP New Energy Corporation.
Emmanuel Rubio, Mearlco subsidiary MGen president and CEO, collected the certificate.
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