The Department of Energy (DOE) today turned over to SunAsia Energy Inc. and its partner, Blueleaf Energy, six Solar Energy Operating Contracts (SEOC) with a combined capacity of 610.5 megawatts (MW) for the construction of its large-scale floating solar projects.
These solar facilities will be installed on the water surface of Laguna Lake, spanning the growing cities of Calamba, Sta Rosa, and Cabuyao and the towns of Bay and Victoria. Each contract has a 25-year operating period.
Energy Secretary Raphael P.M.Lotilla led the turnover ceremony together with Ms.Tetchi Capellan, President and CEO of SunAsia Energy, and Mr. Raghuram Natarajan, CEO of Blueleaf Energy. Ambassadors Hae Kyong Yu of Australia and Gerard Ho Wei Wong of Singapore were present to witness the turnover.
SunAsia Energy, a developer of sustainable solar energy in the country since 2013, is a wholly owned Filipino company. Its partner, Blueleaf Energy is a stand-alone portfolio company of Macquarie which developed and built almost 2 GW of solar capacity across the globe, including 250 MW in the Philippines. The company currently has over 7 GW of solar, wind, and storage projects pipeline across the Asia Pacific.
In September 2022, during the state visit of President Ferdinand Marcos, Jr. to Singapore, Blueleaf Energy signed a Letter of Intent (LOI) to increase its sustainable infrastructure investment commitment in the Philippines.
"The awarding of these contracts accelerates the implementation of the thrust of President Ferdinand Marcos, Jr. to develop indigenous and renewable sources of energy. It also represents an additional strategic investment and a firm commitment to strengthen the country's renewable energy sector, especially the commercialization of floating solar as an emerging technology," Secretary Lotilla said.
The energy chief added that these floating solar projects would provide cost-effective renewable energy production without having to occupy usable land mass that could otherwise be used for other important sectors such as agriculture.
Solar energy is a rapidly developing sector in the country, with increasing interest and investment in recent years. This can be attributed to the country's abundant solar irradiation throughout the year, making it an ideal location for the development of solar projects.
To date, a total of 237 solar energy contracts with an aggregate installed capacity of 1,282 MW and potential capacity of 21,452 MW have been awarded by the DOE. This has generated around PhP 8.46 billion investments for the country. ###