Philippine renewable energy firm SunAsia Energy Inc. and Vietnam-based VinEnergo have forged a strategic partnership to develop a $406-million, 422-MWp Solar on Water portfolio in Pampanga and Negros Occidental.

During the partnership agreement signing, SunAsia Energy President and CEO Tetchi Capellan stated that the three projects in the portfolio are targeted for commercial operations between 2027 and 2028. These are expected to be among the first large-scale, pile-mounted Solar on Water developments in the Philippines.

Capellan shared that VinEnergo approached SunAsia for its entry into the Philippine market because SunAsia is currently the only local company with a proven track record in floating solar projects. She added that SunAsia will hold a majority stake in the joint venture, which will be funded through a combination of equity and bank loans.

Energy Secretary Sharon Garin welcomed the venture, noting that it “reflects confidence in the country's investment timing, confidence in our energy sector, and confidence in the Filipino people's capacity to innovate and build.”

Once operational, the three projects are expected to generate enough clean electricity to power more than 278,000 homes annually. They will also avoid approximately 460,888 tons of carbon emissions each year—equivalent to the carbon sequestration of around 21 million trees.

The projects will utilize innovative "Solar on Stilts" technology, a Solar on Water model where solar panels are elevated on concrete pile structures above the water. This design allows aquaculture and fishpond operations to continue uninterrupted beneath and around the installations.

By enabling clean energy generation alongside aquaculture, the projects maximize the productive use of water-based areas in Pampanga and Negros Occidental. This approach demonstrates how renewable energy can coexist with food production and water resource management—supporting the Food–Energy–Water Nexus while preserving the traditional livelihoods of local communities. Together, they are poised to serve as pioneering models for sustainable development that balance energy security, food production, environmental stewardship, and community development.

“This partnership was born out of the shared resolve of SunAsia Energy and VinEnergo to advance energy security, support economic growth, improve the lives of our people, and help protect the planet,” Capellan said. “Through Solar on Stilts, we are not only building renewable energy infrastructure; we are creating a model where food production and clean energy can grow together.”

She further emphasized the regional synergy: “The most exciting part of this partnership is the integration of aquaculture and energy production. Vietnam is one of the world’s leading shrimp exporters, while the Philippines has a strong history in shrimp production. By bringing together the experience, technology, and commitment of both countries, this partnership presents a compelling case for integrated solar-aquaculture farming from both a farm productivity and energy cost perspective.”

“We look forward to working with SunAsia Energy in bringing this innovative renewable energy model from vision to reality," added Nguyen Anh Khoa, CEO of VinEnergo. "Solar on Water offers a unique opportunity to support sustainable energy growth and responsible resource utilization.”