SP New Energy Corp. (SPNEC) has begun construction preparations for Terra Solar Philippines, Inc.'s solar project in Nueva Ecija and Bulacan.
The 3,500-hectare solar project, owned by SPNEC's subsidiary Terra Solar, aims to become the world's largest upon completion.
The first phase is scheduled for completion by the first quarter of 2026.
SPNEC is expediting site clearing and preparing for the project's interconnection with the national grid and the installation of over five million solar panels.
Over 3,000 hectares have been secured for projects in Nueva Ecija and Bulacan, with a focus on industrial use.
The Terra Solar project will repurpose pasturelands in the town of Peñaranda and has already completed one solar development in the area.
The project plans to feature 3,500 megawatts of solar panels and 4,000 MW hours of battery storage, estimated to cost P200 billion.
It is expected to generate over five billion kWh annually, contributing around five percent to the Philippine grid and 12 percent to its total demand.
SPNEC begins work on 'world's largest solar project'
In Bulacan and Nueva Ecija
At a glance
SP New Energy Corp. (SPNEC) has commenced the construction preparations for Terra Solar Philippines, Inc.'s solar project in Nueva Ecija and Bulacan.
In a statement on Monday, Jan. 1, SPNEC said it began clearing the site for the 3,500-hectare solar project, which will be owned by its subsidiary Terra Solar.
Upon completion, SPNEC stated that it will become the "world's largest solar project."
The first phase of the project is set to be completed by the first quarter of 2026. To keep to this schedule, SPNEC is accelerating its site clearing efforts before constructing the project's connections to the national grid and installing over five million solar panels.
SPNEC earlier secured more than 3,000 hectares for its projects, mainly in Nueva Ecija and Bulacan, with the majority already transformed into industrial areas. The Terra Solar project focuses on converting pasturelands in the town of Peñaranda.
Additionally, SPNEC has completed installing solar panels for the first of its Nueva Ecija solar developments in the same town.
The Terra Solar project is planned to consist of 3,500 megawatts of solar panels and 4,000 MW hours of battery storage and cost an estimated P200 billion.
The project is expected generate over five billion kWh annually, or an estimated five percent of the total volume of the Philippine grid and 12 percent of its total demand.
This would be larger than India’s Bhadla Solar Park and China’s Golmud Solar Park, currently the world’s largest solar farms at over 2.2 gigawatts.
This would also exceed the capacity of all grid-connected solar projects operating in the Philippines combined at over 1.5 GW according to the Department of Energy’s latest figures as of 2023.
Accelerated work on this project comes with the completion of the P15.9 billion investment of MGen Renewable Energy, Inc. (MGreen) in SPNEC last Dec. 27.
SPNEC disclosed the 3500 MW solar and 4000 MWh battery project to be the primary use of proceeds for the investment. Analysts have commented that MGreen’s investment will help speed up the execution of SPNEC’s projects.
MGreen is the renewable energy development arm of Meralco Powergen Corp., a wholly-owned subsidiary of the Manila Electric Co., the country’s largest private sector electric distribution utility firm.