SPNEC’s mega solar project 90% complete
‘I think by the end of September, it’s going to be about 80 percent to 90 percent completed already’
Daily Tribune‘I think by the end of September, it’s going to be about 80 percent to 90 percent completed already’
SP New Energy Corp. (SPNEC), led by business tycoon Manuel V. Pangilinan, is on track to complete its massive solar development project, Terra Solar Philippines, with progress expected to reach 80 percent to 90 percent by the end of September.
In an interview, SPNEC chairman Pangilinan confirmed that the world’s largest single-site solar development is currently between 60 percent and 67 percent complete.
“I think by the end of September, it’s going to be about 80 percent to 90 percent completed already,” he said.
Terra Solar, SPNEC’s flagship project, aims to install 3,500 megawatts of solar panels and 4,000 megawatt-hours of battery storage across Nueva Ecija and Bulacan provinces.
Starts operations 2026
The P200-billion solar farm broke ground in January, and the first phase is expected to be operational by the first quarter of 2026.
Last week, global investment firm Actis announced a $600-million investment in Terra Solar Philippines for a 40 percent stake in the project.
SPNEC president and CEO Manuel V. Rubio highlighted that the partnership with Actis not only brings essential funding but also positions the Philippines as a key player in renewable energy development.
Earlier this year, Pangilinan disclosed SPNEC’s plan to sell up to 40 percent of Terra Solar to attract investors. However, he made it clear that they would not go below owning 60 percent of the project.
