German renewable energy developer ib vogt has officially broken ground on a 99MWp solar PV power plant in South Cotabato, the Philippines.
Named the Tantangan Solar Power Plant, the project has been backed by PHP4.49 billion (US$80 million) in green financing from international bank The Hongkong and Shanghai Banking Corporation (HSBC).
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The project, which will be ib vogt’s second solar project in Mindanao, the second largest island in the Philippines, is the first initiative to benefit from a joint Development and Construction Facility established by British International Investment (BII), the development finance institution of the UK government, and debt financing platform Pentagreen Capital.
The solar PV power plant is estimated to be able to generate up to 150GWh of renewable energy each year. It is expected to be completed and commence commercial operations in 2026.
A groundbreaking ceremony was held earlier this week (6 August) and was attended by government representatives, landowners, financial partners and community leaders.
During this ceremony, Mike Welch, the Chargé d’Affaires at the British Embassy in Manila, noted the new joint financing facility and the support it will grant in bolstering renewable energy developments in Southeast Asia.
“This will have a positive impact on local communities and businesses, as well as supporting the broader energy transition in the country,” Welch added.
The developer has more than 1GWp of active renewable energy projects across various locations in the Philippines. As previously mentioned, another solar PV power plant, the 6.23MWp Surallah Project, is based on the island of Mindanao.
The Surallah Project was commissioned in 2015 and was deemed at the time as “Mindanao’s largest diesel replacement solar power plant”.
ib vogt is developing another utility-scale solar PV power plant, the 300MW AC Energy Ib Vogt Solar PV Park. The project is being pursued via a joint venture between ACEN, a subsidiary of AC Energy and Infrastructure Corp, and ib vogt.
Construction on the project is expected to begin in 2025, and commercial operation is targeted for 2026.
MGen, ACWA Power presents 1.7GW renewable energy strategy to Philippine President
In concurrent news, Meralco PowerGen Corporation (MGen) and Saudi Arabia’s ACWA Power have presented a joint renewable energy development strategy to Philippine President Ferdinand Marcos Jr.
The strategy outlines a plan to co-develop 1.7GW of utility-scale solar and other renewable energy projects across the Philippines.
The joint venture, formalised during the recent ASEAN Summit in Kuala Lumpur, combines ACWA Power’s extensive global portfolio of 78.8GW with MGen’s established 4.95GW domestic footprint.
Last year, MGen partnered with infrastructure investor Actis for its 3.5GW MTerra Solar project, which forms part of Meralco’s broader commitment to support the government’s renewable energy goals.
