The Philippines’ Board of Investments (BOI) has commenced the Terra Solar project, which is expected to be the largest in the world. The project, developed by Terra Solar Philippines Incorporation (TSPI) and co-owned by SP New Energy Corporation (SPNEC) and Manila Electric Company (Meralco), plans to combine 3,500 MW of solar photovoltaic (PV) capacity with a 4,500 MWh battery energy storage system (BESS).
The project will be located across 3,500 hectares in the Bulacan and Nueva Ecija provinces and will cost around PHP185 billion. The BOI’s green lane certificate will accelerate the permitting and licensing processes, aligning with the Philippines’ national development plans. The first phase of the Terra Solar project is expected to begin commercial operations by February 2026, with the second phase following in 2027.
