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MANILA, Philippines — Tycoon Enrique Razon Jr. wants to put up the world’s largest solar power facility in the Philippines with a capacity of 2,500 to 3,500 megawatts, along with a massive battery energy storage system.
Razon’s infrastructure arm Prime Infrastructure Holdings Inc. said in a statement on Wednesday that it would boost the country’s supply of renewable energy, which would also be used to provide power to Manila Electric Company (Meralco). The battery storage system is envisioned to have a capacity of 4,000 to 4,500 MW per hour.
The project will be undertaken by Terra Solar Philippines, a unit of Terra Renewables Holdings Inc., which is a renewable power subsidiary under Prime Infra’s control and in partnership with Solar Philippines Power Project Holdings Inc., which is led by businessman Leandro Leviste.
From this power facility, Terra Solar will supply 850 MW to offtaker Meralco. Prime Infra said 600 MW would be available by 2026, while the additional 250 MW will be delivered in 2027.
According to Terra Solar’s projection, the 850-MW supply can displace an annual consumption of around 1.4 million tons of coal or 930,000 liters of oil. This means a reduction in both greenhouse gas emissions and import dependency for the country from 2026 to 2046.
‘Critical’ infrastructure
“Prime Infra finds a sweet spot to pursue solar as we take advantage of the steep decline in installation costs over the past decade and the improved battery energy storage system technology that allows us to build an economically critical and socially relevant infrastructure at a scale the world has never seen before,” said Guillaume Lucci, president and chief executive officer of Prime Infra.
Prime Infra said this development would be a boon to Meralco, which will increase its renewable energy sourcing as mandated by the Department of Energy’s Renewable Portfolio Standards.
The Terra Solar project is a model of “dependable” renewable energy, which represents stable pricing not subject to fuel imports volatility for the rest of its 20-year contract, according to Prime Infra.
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