With the lingering global inflation, gas shortage and price hike, many countries are tapping into different renewable energy sources. The Philippines, for one, plans to develop the world’s largest solar farm to supply the country with sustainable energy.
The inflation rate continues to rise as well as gas prices. These economic dilemmas prompt governments worldwide to seek alternatives to battle rising poverty. In terms of energy utilization, solar energy is one the most popular source of workable energy.
Building the World’s Largest Solar Farm
Solar Philippines Nueva Ecija Corp. (SPNEC) plans to exceed India’s Bhadla solar park and build the largest solar farm in the world. The corporation is securing at least 2,500 hectares of land both in Nueva Ecija and Bulacan where it plans to build a 3.5-gigawatt solar farm. It said that it would develop its operations in the same region secured for its 500-megawatt solar project. The first 50 megawatts along with the transmission are in the process of construction.
The solar company allocates proceeds from its several fundraising activities to procure lands in the said provinces. Solar Philippines’ efforts bore fruit because, since 2016, the company is already consolidating land as well as permits for the said project.
SPNEC aims to build a solar structure with a 4 gigawatts capacity to exceed the expanse of the full grid-connected solar operation in the country as of end at more than 1.3 gigawatts. This will outshine India’s Bhadla solar farm’s capacity at more than 2.2 gigawatts, which is currently the largest solar farm in the world.
“Over the years, others did not believe these ranchlands far from the grid could be the site for a solar farm. By the end of this year, our planned share issuances should result in the consolidation of ingredients that would enable SPNEC to expand its flagship project to be the world’s largest solar farm,” said Leandro Leviste, founder of Solar Philippines.
Battle of Energy Supply: Meralco vs. Solar Philippines
Meralco Electric Co challenges Solar Philippines for its unforeseen proposal, which covers 200 megawatts of baseload supply to start in 2024. The electric company has begun the competitive selection process (CSP) for the supply offer. It’s a part of its enduring efforts to acquire reasonably priced power for customers.
The behemoth electric company invites interested parties to challenge the proposal of Solar Philippines Batangas Baseload Corp (SPBBC), through its party bids and awards committee.
SPBBC is offering a ₱4.65 per kilowatt hour headline rate at a 100-plant capacity factor. It’s a similar rate for the regularized cost of electricity for the duration of 2 decades. It plans to acquire the 200-megawatt contract capacity. Moreover, it will ensure output from its 1,800-megawatt solar project with 1,800 megawatt/hour of battery storage, currently in progress.
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