Clime Capital to invest up to USD 10m in Philippine solar firm UGEP
Sep 11, 2024 14:25 CESTThe Philippines will switch on nearly 2 GW of solar power generation and at least 590 MW of battery energy storage this year, the Department of Energy (DOE) announced last week.
The government expects at least 4,165 MW of power projects to come online in 2024 in a mix of renewable and conventional sources. This includes the start of commercial operation of 1,985 MW of solar capacities, of which some 495 MW are already in the testing and commissioning stage and an additional 966.3 MW should come online by June.
Of the 590 MW of battery installations scheduled for completion this year, 32.42 MW of capacity is already in operation.
The DOE said that the new additions will strengthen the reliability and stability of the grid, preventing supply deficiencies and potential power interruptions.
"We call upon the LGUs and other concerned government agencies to proactively engage with energy project developers, prioritize the issuance of permits, and address right-of-way issues in a timely manner to facilitate the seamless implementation of energy projects,” stated energy secretary Raphael P.M. Lotilla.
Clime Capital to invest up to USD 10m in Philippine solar firm UGEP
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