Philippines-based Prime Infrastructure Holdings unveiled a plan to expand its investments in renewable energy by building the world’s largest solar plant in the Philippines.
The privately held company, which announced last week that it will purchase a majority stake in the Malampaya gas field in the West Philippine Sea, announced on Wednesday that its subsidiary Terra Solar Philippines would build a solar farm with a capacity of 2,500 MW to 3,500 MW.
The plant will also contain a massive battery capable of storing up to 4,500 megawatt-hours of power.
Prime Infra stated that it will collaborate with Solar Philippines, founded by businessman Leandro Leviste, to identify potential project areas in northern and southern Luzon.
Solar Philippines, which is already building a solar farm in Nueva Ecija, about 100 kilometers north of Manila, is also partnering with Prime Infra on the construction of another solar farm in Tarlac, about 70 kilometers west of Nueva Ecija.
Guillaume Lucci, president, and CEO of Prime Infra, remarked that Prime Infra finds a sweet spot to pursue solar as they take advantage of the steep decline in installation costs over the last decade and improved battery energy storage system technology that allows them to build economically critical and socially relevant infrastructure on a scale never seen before.
Terra Solar agreed last year to supply the Manila Electric Co. (Meralco), the country’s largest privately held utility, with around 850 MW of electricity to power Metro Manila and surrounding areas. It will begin supplying Meralco with 600 MW in 2026, with another 250 MW coming online the following year.
In recent years, the Philippines’ energy storage market has quickly become one of Asia’s most talked-about industries, with major power generation corporations such as SMC Global Power and Aboitiz Power investing in battery storage portfolios. The country’s first co-located solar and storage plant went online earlier this year.