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Manila Bulletin devider Business devider Trade & Industry devider EPI fast-tracks indigenous power amid global oil shocks

EPI fast-tracks indigenous power amid global oil shocks

Published Mar 30, 2026 12:01 am  |  Updated Mar 29, 2026 06:25 am
Emerging Power Inc. (EPI), the renewable energy unit of Nickel Asia Corp., is accelerating the development of solar projects in Leyte and Zambales amid volatility in global fuel markets, driving the push for indigenous energy sources.
Joseph Fernandez, EPI president and chief executive officer, told reporters that the company is preparing to deploy approximately ₱10.30 billion in capital expenditure for this year to bolster its renewable portfolio.
Fernandez also said that EPI is aligning its expansion with government efforts to insulate the domestic grid from price shocks linked to imported liquefied natural gas and oil.
In Leyte, EPI is finalizing the testing and commissioning phase for a 240-megawatt solar facility, a joint venture with Shell Overseas Investments B.V. The project’s second phase, a 120-megawatt installment that began in October, is slated for energization by the second quarter of this year.
Internal data showed the asset has already generated roughly 15,172 megawatt-hours.
The company is also making progress in Zambales, where the first phase of a 45-megawatt-peak solar project in Botolan is scheduled to come online by the fourth quarter.
A subsequent 14-megawatt-peak phase is expected to be energized by the first quarter of 2027. These developments are part of a broader roadmap to scale Emerging Power’s gross capacity to 458 megawatts this year, with a target of 667 megawatts by 2026.
Beyond its immediate pipeline, the EPI is developing a 145-megawatt solar project in Subic Bay, with its initial phase set for the second quarter of next year, and a 50-megawatt-peak facility in Bataan scheduled for 2027.
While solar remains the primary driver of growth, Fernandez indicated the company is diversifying into the hydropower sector. Emerging Power is currently exploring greenfield hydro projects in Isabela and Davao Oriental.
Fernandez explained that combining intermittent renewable sources with battery energy storage systems (BESS) is the most efficient way to stabilize the grid and lower costs.
He noted that integrating batteries allows solar plants to provide mid-merit capacity at rates that are increasingly competitive compared to traditional gas-fired generation.
By shifting the delivery of solar power to peak demand periods, the company aims to offer a cheaper alternative to the volatile spot market prices that have recently burdened Filipino consumers.

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Nickel Asia Corp. (NAC) renewable energy (RE)
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