Prime explores floating solar panels

Prime Infrastructure Capital Inc. of the Razon group is keen on venturing into floating solar development in some of its water assets to expand its renewable energy portfolio.

“We’re considering floating solar. It’s a very good type of solar (power) system. It all comes down to economics and grid access and so on,” Prime Infra president and CEO Guillaume Lucci said in an interview with reporters last week. 

“We’re open to floating solar and we support it very much,” he added. 

Floating solar is a type of renewable energy technology that involves installing solar panels on floating structures on water.

The panels are secured to the bottom of the water body using buoyant structures, which enable them to move with the water’s surface.

Locally, developers have signified their interest in building floating solar facilities in areas like the Laguna de Bay, the country’s largest freshwater lake.

The Department of Environment and Natural Resources has implemented stringent rules for granting environmental compliance certificates under the Philippine Environmental Impact Statement System for floating solar plants.

Ecosystem protection foremost

Establishing the guidelines for floating solar projects safeguards the biodiversity and ecosystem of the lake.

In the same interview, Lucci said Prime Infra is no longer pursuing an initial public offering (IPO) to raise funds. 

“So as far as fundraising is concerned, there’s no IPO in the short or medium term. We’ll evaluate whatever options are available to us, call it longer term,” he said. 

Last week, Prime Infra’s wholly-owned subsidiary, Prime Solar Tanauan, inaugurated its 64-megawatt (MW) solar plant in Tanauan, Batangas. 

According to Lucci, the power plant is the first in the country to utilize digital twin technology, drone verification of progress, optimized string sizing, and 24/7 quality assurance/quality control monitoring both at the factory and at the site.

Prime Solar’s two solar power plants — one in Tanauan, Batangas, and one in Maragondon, Cavite — will supply up to 128 MW of clean, renewable energy from its solar power plants, powering about 84,000 households and displacing over 100,000 tons of coal per year.