President Ferdinand Marcos Jr. leads the groundbreaking ceremony for the world’s largest single-site solar and battery energy storage facility in Nueva Ecija and Bulacan on Thursday, November 21, 2024. The P200-billion Terra Solar project of SP New Energy Corp. consists of a 3,500-megawatt solar power plant battery energy storage system that can generate clean energy and power for approximately 2.4 million households. It aims to address the increasing demand for electricity while playing a critical role in the shift towards clean energy solutions. It is anticipated to decrease carbon emissions by 4.3 million tons per year. Solar farm stock image/INQUIRER.net
BACOLOR, Pampanga — President Ferdinand Marcos Jr. led Thursday’s groundbreaking ceremony for the world’s largest single-site solar and battery energy storage facility in Nueva Ecija and Bulacan.
The ceremony for the launching of the P200-billion Terra Solar project was held at Barangay Callos in Peñaranda town, Nueva Ecija.
Marcos said the project will make the Philippines a “leader in renewable energy.” He also said that the big investment “demonstrates confidence in the stakeholders in the country’s potential to provide safe and reliable power.”
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“Over the next decade, it is poised to generate nearly P23 billion in financial benefits—resources that will pave the way for even greater progress,” the president said.
“The impacts and advancements of this project are amongst those that we envisioned when I spoke about energy in my recent State of the Nation Address,” he added.
arcos urged the timely completion of the Terra Solar project.
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The solar farm venture of SP New Energy Corp. through Terra Solar Philippines, Inc. aims to address the increasing demand for electricity while playing a critical role in the shift towards clean energy solutions.
Terra Solar, which consists of a 3,500-megawatt solar power plant battery energy storage system that can generate clean energy and power for approximately 2.4 million households, would serve as the renewable energy vehicle for Meralco PowerGen Corp.
It is seen to contribute to the stability and reliability of the Luzon Grid and create thousands of jobs during its construction and actual operation.
The Terra Solar project is anticipated to decrease carbon emissions by 4.3 million tons per year.