Total Eren SA has agreed to join the development of a 336-MW/440-MWp solar project in the Philippines that recently obtained the green light from the country’s Department of Energy.
San Ignacio Energy Resources Development Corporation, part of the Nextnorth Energy group, announced this earlier this month, while also saying that it signed a solar energy operating contract with the energy department’s secretary Raphael P. M. Lotilla. According to the announcement, Total Eren will invest in the PHP-18-billion (USD 326m/EUR 307m) project through San Ignacio, thereby making it a Filipino-French joint venture.
The project in question is planned for the city of Ilagan in Isabela province. It will be built on roughly 400 hectares of available land along the Northern Luzon high-voltage transmission network run by the National Grid Corporation of the Philippines (NGCP). Construction work is expected to be initiated in 2024 and completed in 2025.
Total Eren is a renewables-focused Independent Power Producer (IPP) that counts France’s TotalEnergies as one of its strategic investors. It has more than 3.7 GW of wind and solar PV projects under construction or in operation around the world, including a 60-MWp solar plant in the Philippine province of Tarlac.
The Philippines’ new administration wants to achieve a 35% renewable energy share by 2030 and then hit 50% by 2040.
(PHP 1 = USD 0.018/EUR 0.017)
Source: renewablesnow
