The Terra Solar Philippines (Terra Solar) has announced plans to invest around PHP200 billion to finance solar and battery energy storage system (BESS) projects in the Philippines, The BESS projects will be used to support its 20-year power supply agreement (PSA) to meet the mid-merit capacity needs of Manila Electric Company (Meralco).
Terra Solar will develop the solar farms with integrated energy storage systems at the Luzon grid locations, mainly the Batangas-Cavite region, Nueva Ecija, Tarlac and Zambales.
The capital outlay will cover the development of 2,500 – 3,500 MW of installed solar capacity in addition to the 4,000 to 4,500 MWh of battery storage to supply 850 MW mid-merit capacity to Meralco. The initial 600 MW will be supplied by February 2026 while the remaining 250 MW will be supplied to Meralco by February 2027.