SP New Energy Corporation (SPNEC) has initiated the groundbreaking for Terra Solar, a $4 billion solar energy farm in Nueva Ecija and Bulacan, with aspirations to become the “world's largest solar project.” Tycoon Manuel V. Pangilinan, supporting SPNEC, is set to play a pivotal role in the venture.
The expansive project, spanning approximately 3,500 hectares, aims to surpass the scale of India's Bhadla Solar Park and China's Golmud Solar Park once fully operational. The first phase is projected to be completed by early 2026, prompting SPNEC to expedite site clearing activities.
Terra Solar is designed to feature 3500 MW of solar panels and 4000 MWh of battery storage, positioning it as a powerhouse capable of generating over 5 billion kilowatt-hours annually. This capacity corresponds to an estimated 5% of the total volume of the Philippine grid and addresses 12% of the nation's total energy demand.
The recent disclosure of Manuel V. Pangilinan assuming leadership roles within SPNEC follows the completion of MGreen's $15.9 billion investment in the renewable energy development firm. The influx of funds from this investment is expected to play a pivotal role in financing the ambitious Terra Solar project.
SPNEC is now focused on the project's next steps, including the construction of interconnection facilities with the national grid and the installation of over 5 million solar panels to meet the set timeline and contribute significantly to the Philippine renewable energy landscape.
