Construction has begun at a UK-backed 99MW solar power plant in South Cotabato, providing electricity to 82,000 homes and reducing 66,000 tonnes of CO2 per year.
Mindanao’s solar power plant demonstrates another achievement in the growth of the UK and the Philippines’ partnership in clean energy development.
The investment in solar farms of 4.49 billion demonstrates how UK expertise and funding can help transform the Philippines’ energy environment.
The project is supported by innovative funding from UK International Investment (BII), a UK development financial institution, and will work with HSBC and Pentagreen Capital to enable this ambitious project.
The key role of solar in the global energy transition
Solar energy plays a key role in the global transition to renewables, offering clean, rich, sustainable alternatives to fossil fuels.
The sun provides more energy than an hour per year, so using this resource through solar panels and other technologies reduces greenhouse gas emissions, combat climate change, and reliance on non-renewable energy sources.
Solar power promotes energy independence and security, especially in remote or underdeveloped areas where access to traditional power grids is limited. With reduced costs and increased efficiency, solar energy is at the forefront of efforts to build a more resilient, environmentally responsible energy system.
Supports clean energy transition in the Philippines
Once completed, the solar power plant generates sufficient clean electricity each year, powering over 82,000 Philippine households while preventing 66,000 tonnes of harmful carbon emissions from entering the atmosphere each year.
This new joint funding facility between British international investment and Pentagreen, the British Embassy in Manila, along with Eve Fogt Singapore, will support the 99MWP solar project in South Cotabato, Mindanao.
“This will positively impact local communities and businesses and support a broader energy transition within the country.”
Employment opportunities at Mindanao Solar Power Plant
The Mindanao Solar Power Plant is developed by international solar company IB Vogt and represents Mindanao’s second major solar initiative.
Its construction and operational stages create employment opportunities for local communities while strengthening the country’s electricity grid serving millions of Filipinos.
Strengthening UK and Philippines’ renewable energy partnerships
This latest solar project is based on a growing portfolio of UK investment in renewable energy in the Philippines, including recent support for 380 MW wind farms in Luzon and Visaya.
Boasted by a $150 million equity investment, the partnership represents a major step forward in expanding the Philippines’ renewable energy capacity. The project, which secured off-take agreements through the Department of Energy’s Green Energy Auction Program (GEAP), exemplifies the potential partnerships to advance clean energy initiatives.
Additionally, the UK is supporting what will become the country’s largest solar power plant in Nueva Ecija. The Terra Solar Project strengthens the UK’s role as a key partner in the Philippines’ renewable energy transition, providing millions of Filipinos with affordable, reliable and sustainable power.
“We are pleased to announce that we are a great opportunity to see the Philippines,” said Laure Beaufils, ambassador under Ma. “The UK is proud to be a partner in the Philippines’ renewable energy journey, and these investments reflect our shared vision for a sustainable future, highlighting the strong ties between our two countries.
“Projects like this not only provide clean energy to millions, but also create opportunities for innovation and progress in the fight against climate change.”
These initiatives demonstrate a strong partnership between the UK and the Philippines. This brings tangible benefits to communities and businesses while promoting global climate action.
Source link
