SunAsia Energy Inc. and Vietnam’s VinEnergo have entered into a strategic partnership to develop a 422 MWp Solar on Water portfolio across Pampanga and Negros Occidental in the Philippines. The three-project portfolio represents an estimated investment of USD406 million and is scheduled to commence commercial operations between 2027 and 2028.
The projects will deploy Solar on Stilts technology, with solar panels mounted on concrete pile structures above water bodies, allowing aquaculture and fishpond operations to continue beneath the installations. The portfolio will comprise nearly 700,000 solar panels and approximately 62 km of new transmission lines. Once operational, the facilities are expected to generate enough renewable electricity to power more than 278,000 homes annually while reducing carbon emissions by approximately 460,888 tonnes each year. Over the next 18 months, both companies will undertake engineering and project development activities, including the selection of maritime engineers, technology providers and EPC contractors.
The development is expected to strengthen electricity supply across Luzon and the Visayas while supporting the Philippines’ clean energy transition. By integrating renewable power generation with aquaculture, the projects aim to optimise water resource utilisation, preserve local livelihoods and promote the Food-Energy-Water Nexus. The partnership also reflects growing ASEAN cooperation in renewable energy, with both companies positioning the Solar on Water model as a scalable solution for sustainable energy generation, food production and community development.