Enrique Razon, the Philippines'' second-richest person, is on his way to building "the world''s largest" solar power facility, which has 2,500 to 3,500 megawatts of solar panels and 4,000 to 4,500 megawatt-hours of battery storage.
According to a press release, this method will provide enough clean energy to help prevent burning the equivalent of 1.5 million tons of coal each year. Increasing the country''s supply of renewable energy will also be boosted.
A giant solar panel array in the Philippines
Terra Solar Philippines, a subsidiary of Terra Renewables Holdings, Inc., a solar power subsidiary founded by billionaire Enrique Razon, is planning to undertake the project in collaboration with Solar Philippines Power Project Holdings, Inc.
Prime Infra claimed in a statement on Wednesday that the planned facility will distribute 850 megawatts to Manila Electric Co., the Philippines'' largest power company, which distributes electricity in the capital and surrounding areas.
According to Terra Solar, to make this a reality. It''s equivalent to what some nuclear power facilities offer. The project will ensure its power is fully available during peak demand, and the electricity generated will be enough to replace 1.4 million tons of coal or 930,000 liters of oil every year.
And, withSolar Philippines Power Project Holdings assisting construct the solar section, the project will be completed in two phases in 2026 and 2027. However, a location or cost haven''t yet been disclosed in the statement.
Making renewable energy dependable
The Terra Solar project is described as "a model of reliable renewable energy, which represents a stable price that is not subject to fuel imports volatility for the remainder of its 20-year contract." The project is designed to combine inexpensive photovoltaic panels with energy storage to alleviate the battery issue.
The project will aim to reduce the country''s greenhouse gas emissions and import dependency from 2026 to 2046. This is significant because, despite the fact that the Philippines currently consumes roughly 57% of its electricity from coal, burning the equivalent of 29 million tons of high-quality fuel, the country has one of the country''s most aggressive renewable energy policies.
The year 2020 was a key start for landmark initiatives such as the Coal Moratorium and the Renewable Portfolio Standards (RPS), which boosted investment in renewables.
Renewable energy is currently responsible for 29.1 percent of installed capacity in the Philippines and will certainly be increased with the help of solar energy, which is further strengthened by the country''s construction of the world''s largest solar-powered steam facility. Meanwhile, the world is on a similar trajectory, with the world''s largest solar-powered steam factory being built in Saudi Arabia.
