Project developer Solar Philippines Nueva Ecija Corporation (SPNEC) has begun construction on the first 50MW unit of a 500MW PV facility on former ranchland in Peñaranda, in the province of Nueva Ecija, in the Central Luzon region.
“The first 50MW is targeted to begin delivering power to the grid by the end of 2022, paving the way for SPNEC to reach profitability and construct the rest of the project by 2023,” the company said in a filing with the Philippine Stock Exchange (PSE).
“Once the first 50MW begins delivering power to the grid, SPNEC plans to install solar panels for the next 175MW over half a year, and be ready to install solar panels for the rest of the 500MW over a year, given the relative ease of adding capacity to an already operating solar farm.”
When completed, the unsubsidized plant will be the country's largest solar facility. The project is part of a 1GW PV project pipeline that the company announced in December 2020.
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