Clime Capital to invest up to USD 10m in Philippine solar firm UGEP
Sep 11, 2024 14:25 CESTSolar Philippines’ listed unit Solar Philippines Nueva Ecija Corporation (PSE:SPNEC) is advancing work on its project for the 3.5-GW Terra Solar power complex at home and has started site clearing activities ahead of launching construction works.
The site will eventually span about 3,500 hectares, with a large portion of the terrain already being prepared for industrial use. The first phase of the project’s realisation is expected to be completed by the first quarter of 2026, the company confirmed in a securities filing on Tuesday.
Solar Philippines announced the gigawatt-scale project expansion plan in 2022. It will be realised in partnership with Prime Infrastructure Holdings Inc. The PHP-200-billion (USD 3.59bn/EUR 3.28bn) Terra Solar site will be coupled with about 4 GWh of a battery energy storage system (BESS).
(PHP 100 = USD 1.797/EUR 1.640)
Clime Capital to invest up to USD 10m in Philippine solar firm UGEP
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