The Philippines will add approximately 1.99GW of solar capacity this year, according to the Philippines’ Department of Energy (DOE).
The DOE announced that at least 4.16GW of power projects will come online this year from a mix of renewable and conventional sources. Of this total capacity, 1.99GW will be from solar projects. The DOE said about 966.3MW will be operational by June, while about 494.9MW are under testing and commissioning and can already inject energy into the grid.
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Meanwhile, at least 590MW of battery energy storage systems (BESS) will come online this year, with 32.42MW already operational.
As of late April, 161.2MW of all power sector projects coming online this year are now in full commercial operation, while 835.9MW are under the testing and commissioning stage. Baseload plants comprise around 678MW, while mid-merit plants and peaking plants have capacities of 1,320MW and 2,163MW respectively.
The Philippines had about 2.3GW of operating solar capacity as of the end of 2023. It has drawn considerable interest from the solar sector, notably floating solar developers, with SunAsia and BlueLeaf Energy both announcing plans to build 1.3GW of floating solar power in the country from 2025 onwards.
Indeed, the Philippines has considerable solar potential, with the capacity to install an additional 36.6GW of solar capacity, ahead of 16.5GW in Indonesia and 10.2GW of capacity in Vietnam. As shown in the graph below, several gigawatts of capacity having already been announced, or are under construction, in ASEAN member countries.
| PV Tech publisher Solar Media will be organising the Solar Finance & Investment Asia Summit in Singapore, 24-25 September. The event will bring together the most influential leaders representing funds, banks, developers, utilities, government and industry across the Asia-Pacific region on a programme that is solutions-focused from top to tail. For more information, including how to attend, please go to the official website. |