MANILA, Philippines — Manuel V. Pangilinan-led SP New Energy Corp. (SPNEC) is advancing the development of the world’s largest solar farm with an over 70-percent completion as of end-September.
SPNEC is developing the $4-billion Terra Solar project in Nueva Ecija and Bulacan that will consist of 3,500 megawatts of solar panels and 4,000 MW hours of battery energy storage systems.
In a recent interview, SPNEC president and CEO Emmanuel Rubio said the project is “slightly ahead of schedule,” achieving a 73-percent progress rate in overall development.
The solar facility covering 3,500 hectares is being eyed for completion in phases, with the first phase by 2026 and the second phase by 2027.
“We’re close to actually acquiring all the lots for Phase 1. Phase 2 is the one we’re working on now, given that in Phase 1 we’re close to securing, converting and reclassifying the lots for the PV (photovoltaic) sites,” Rubio said.
As of end-September, he said the PV land and the transmission line right-of-way were both 62 percent complete, while the permitting process had achieved a 61-percent completion.
Key progress also includes solar farm development (96 percent), procurement of major equipment (95 percent) and interconnecting development (90 percent).
“We continue to make significant strides in our low-carbon energy transition journey, highlighted by the progress made in our flagship project, Terra Solar,” Rubio said.
Earlier this year, Terra Solar was certified by the Department of Energy as an energy project of national significance and also earned green lane certification from the Board of Investments.
These certifications will streamline the permit approval and processing, paving the way for the timely implementation of the project.