This energy resource uses sunlight, which is renewable energy and is safer and more efficient than nuclear energy.
The Philippines has always sought an alternative energy source for use in homes, cities, offices, and workspaces. There have been attempts to renew nuclear energy and use hydroelectric power. Now, Enrique Razon Jr, founder of Prima Infrastructure Holdings, is deepening its investments by building the world’s largest solar farm.
The company’s energy division, Terra Solar Philippines has plans to build a solar farm that could generate around 2500-3500 megawatts of electricity. The farm would store as much as 4000-4500 megawatt-hours worth of energy. If completed, it would surpass the Bhadla Solar Park, currently the world’s largest solar farm.
“We find a sweet spot to pursue solar as we take advantage of the steep decline in installation costs over the past decade and the improved battery energy storage system technology that allows us to build an economically critical and socially relevant infrastructure at a scale the world has never seen before.” Guillaume Lucci said, President and CEO of Prime Infrastructure.
Terra Solar has engaged in a contract with Meralco to supply them with 850MW of electricity. This phase is expected to begin by 2026, starting with the first 600MW of power, followed by the 250MW the following year.
Razon said that he will invest over USD 3 billion to start the solar farm project. He also added that the 850MW of power Meralco would provide would help the country rely less on coal imports, resulting in lower greenhouse gas commissions from 2026 to 2046.