President Ferdinand Marcos Jr. says that the Terra Solar project is crucial in addressing the growing demand for electricity and the urgent need to transition to renewable and sustainable energy sources.
In the recent groundbreaking for the Terra Solar project, the Chief Executive said that this project would put the country at the forefront of the renewable energy (RE) movement.
“This landmark project will put our country on the map as a leader in renewable energy…Your efforts have shown that we can forge ahead as key players in the world’s energy revolution. By leveraging our abundant solar resources, the TerraSolar project will help stabilize our power supply, reduce energy costs, and contribute significantly to our target of 35% renewable energy savings in the power generation phase by the year 2030,” said Marcos Jr.
The Php 200 billion Terra Solar project is spearheaded by Terra Solar Philippines, Inc. (TSPI), under SP New Energy Corporation (SPNEC), with MGEN Renewable Energy Inc. (MGreen)—MERALCO PowerGen Corporation’s renewable energy division—which serves as the majority stakeholder in SPNEC.
This project, spanning 3,500 hectares, aims to generate 3,500 megawatts peak (MWp) of photovoltaic (PV) power, along with 4,500 megawatt-hours (MWh) of energy storage through its Battery Energy Storage System (BESS), ensuring a reliable and sustainable energy supply.
This project is poised to supply clean solar energy to the Manila Electric Company (MERALCO) under a 20-year, 850 MW mid-merit power supply agreement (PSA). The delivery will be phased, with 600 MW expected by February 2026, followed by the remaining 250 MW in February 2027.
MERALCO Chairman and CEO Manny V. Pangilinan said that the country needs more solar projects with BESS because they increase the capacity factor of RE.
“This goes a long way towards achieving some degree of energy independence, kasi walang fuel ito, sa araw lang ito. Kaya, it’s a big step towards energy independence for the country,” said Pangilinan.
Upon completion, the Terra Solar project is set to power around 2.4 million households with clean energy, while helping to eliminate 4.3 million tons of carbon emissions annually.
