ISOC Energy has signed an agreement with China Energy International Engineering Company (CEEC) Limited for the construction of a 1 GW floating solar project on the Laguna Lake in the Philippines. The scope of work includes the design, procurement, construction, testing and commissioning of the plant.
This is the first large-scale power plant in the Philippines and will help the country transition to a green energy system. As per the Philippine Energy Plan, the share of RE will increase to 35 per cent in 2030 and 50 per cent in 2040.