Actis backs 3.5GW solar, 4.5GWh storage project in the Philippines

September 10, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
An Actis project in South Korea.
Actis has agreed to partner with Manila Electric Company and its subsidiary, Solar Philippines New Energy Corporation. Image: Actis.

Infrastructure investor Actis has entered a strategic partnership with the companies behind a 3.5GW solar, 4.5GWh battery energy storage system (BESS) project in the Philippines, one of the largest in the world.

The firm has agreed to partner with utility Manila Electric Company (Meralco) and its subsidiary, Solar Philippines New Energy Corporation, to invest in the Terra Solar Project. The project plans to pair 3.5GWp of solar PV capacity with a 4.5GWh BESS. It could be the largest in the world by capacity, in terms of solar, BESS as well as both technologies combined.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Solar Philippines New Energy Corporation currently owns 100% of the project, and it wasn’t revealed how large a stake Actis plans to take or what the value of that investment will be.

Read the full version of this story on our sister site, Energy-Storage.News.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

Premium
October 28, 2025
BESS are 'the new player that everyone is talking about,' in Europe’s power purchase agreement (PPA) space, according to LevelTen.
October 28, 2025
GoldenPeaks Capital secures EUR114 million (US$132 million) financing package for two solar PV Portfolio in Poland.
October 24, 2025
The Emirati state-owned renewables developer Masdar has begun construction on a giant solar-plus-storage project in Abu Dhabi.
October 23, 2025
The average price of a solar PPA signed in Europe in Q3 2025 fell below €35/MWh, reaching €34.25/MWh, according to LevelTen Energy.
October 23, 2025
Infrastructure investment firm Nuveen Infrastructure has secured US$171 million in financing for a 137MW solar PV plant in South Korea.
October 23, 2025
Aviva Investors and Astatine have announced an €800 million (US$928 million) investment in renewable energy and decarbonisation solutions.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany