Prime Infrastructure Capital Inc. has begun the tendering process for engineering, procurement, and construction (EPC) contractor for the Php 200 billion Terra Solar farm project.
In a report by the Manila Bulletin, market sector lead for Power of Prime Infra Janssen dela Cruz said that they are currently identifying EPC contractors for the project. He added that the commercial operations date is slated between 2026 and 2027.
The project is a utility-scale solar farm with up to 3,500 megawatts (MW) in capacity with 4,000 to 4,500 megawatt-hours (MWh) of battery storage.
Upon commercial operations, the project will be supplying 850-MW of mid-merit capacity to the Manila Electric Co. (MERALCO).
Funding for the project will come from the planned initial public offering (IPO) next year, apart from the equity to be injected by Prime Infra.
Dela Cruz said that they have identified sufficient land to address the needs of the project, which include extra space to ensure panels are eventually distributed for maintenance purposes
The Prime Infra official has indicated primary sites in Nueva Ecija, Zambales, Bulacan, Tarlac, and Cavite, and that they are optimizing the land areas in order to fully utilize the land bank for 3000 MW.
Under the 20-year PSA with MERALCO, Terra Solar will need to deliver the initial 600 MW by February 26, 2026 and the remaining 250 MW by February 2027 at a levelized cost of electricity (LCOE) at Php 5.80 per kilowatt (kWh).