Philippines’ biggest solar park: MTerra Solar brings MGen near 1,500 MW

Actis has completed its acquisition of a 40-percent stake in Meralco PowerGen Corp. (MGen)’s P200-billion solar facility in Luzon. INQUIRER FILE PHOTO

MANILA, Philippines — The P200-billion Luzon solar park of Meralco PowerGen Corp. (MGen) has racked up 772 megawatts (MW) of solar panels installed as the company said the project continued to see “strong momentum.”

MGen said this milestone that MTerra Solar would allow the group to surpass its goal of 1,500 MW of renewables capacity three years early — 2027 instead of 2030.

In a statement on Tuesday, Meralco’s power generation group also said the achievement has made the MTerra Solar project the largest of its kind in the country.

This came just eight months after MTerra Solar had broken ground in November 2024.

The progress rate of the first phase is at 54 percent. It has a target capacity of 2,500 megawatts, with completion eyed by next year.

The second phase, with a capacity of 1,000 MW, is expected to go online by 2027. It will also be equipped with a 4,500 megawatt-hour battery energy storage system. Chinese titan Huawei is the supplier.

READ: British investor completes purchase of 40% in Terra Solar

Other industry players tapped for the construction of the project include Energy China, PowerChina and Meralco Industrial Engineering Services Corp.

MGen has a combined net sellable capacity of 4,953 MW from traditional and renewable sources.

The group closed in April the biggest syndicated loan yet in the Philippines, worth P150 billion. The loan deal was backed by the country’s major lenders: BDO Unibank, Inc., Security Bank Corp., China Banking Corp., Philippine National Bank, Metropolitan Bank & Trust Co. and Bank of the Philippine Islands. INQ

READ: Meralco PowerGen closes P150-B loan for Terra Solar project