ENERGY | VinEnergo, SunAsia partner on P84-billion solar projects in Philippines
The companies said the projects are expected to supply electricity to about 278,000 households while reducing carbon emissions by more than 460,000 metric tons annually.
Renewable energy firms VinEnergo and SunAsia Energy Inc. have partnered to develop three large-scale solar-on-water projects in the Philippines, with investments expected to generate more than $1.5 billion (about P84 billion) in lifetime revenue and expand the country’s renewable energy capacity.
Announced on June 26 in Hanoi, the partnership will develop three Solar on Stilts projects with a combined installed capacity of 422 megawatt-peak (MWp). The facilities are planned for Macabebe, Pampanga (181 MWp), Sagay (126 MWp), and Silay, Negros Occidental (115 MWp), with commercial operations targeted between 2027 and 2028.
The companies said the projects are expected to supply electricity to about 278,000 households while reducing carbon emissions by more than 460,000 metric tons annually.
Over the next 18 months, VinEnergo and SunAsia will complete engineering work and project implementation, including the installation of nearly 700,000 solar panels mounted on pile-supported structures above water and about 62 kilometers of new transmission lines across Pampanga and Negros.
The projects will use Solar on Stilts technology, which allows solar panels to be installed above water while enabling aquaculture activities to continue beneath the structures. The companies said the approach combines renewable energy generation with food production and supports more efficient land and water use.
“Our partnership with SunAsia Energy on this strategic project portfolio is a clear demonstration of VinEnergo’s regional growth ambitions,” said Nguyen Anh Khoa, chief executive officer of VinEnergo.
“We are proud to bring forward solutions that combine sustainable energy development with responsible resource utilization. Floating solar not only contributes to addressing energy security challenges, but also provides a valuable opportunity to share Vietnam’s development experience in protecting local livelihoods and fostering the parallel growth of the energy and agricultural sectors.”
Tetchi Capellan, chief executive officer and chairperson of SunAsia Energy Inc., said the partnership aims to strengthen the country’s energy security while supporting economic growth.
“Through the Floating Solar model, we are not only developing renewable energy infrastructure but also creating a framework where food production and clean energy generation can thrive together,” Capellan said.
ING and SGV & Co. served as exclusive mergers and acquisitions advisers to VinEnergo and SunAsia, respectively.
The announcement coincided with the Philippines’ hosting of the ASEAN Summit, with the companies saying the partnership supports regional cooperation on renewable energy and climate initiatives.
————————————————————————-
TEN YEARS OF TECHSABADO!
PLEASE LIKE our FACEBOOK PAGE and SUBSCRIBE to OUR YOUTUBE & SPOTIFY channels.
WATCH TECHSABADO ON OUR YOUTUBE CHANNEL:
WE ARE ALSO ON SPOTIFY
WATCH OUR OTHER YOUTUBE CHANNELS:
PLEASE LIKE our FACEBOOK PAGE and SUBSCRIBE to OUR YOUTUBE CHANNEL.
