Enrique Razon’s Prime Infra to build world’s largest solar farm in Philippines

·Contributor
·2 min read
Enrique Razon, businessman and owner of casino operator Bloomberry Resorts, answers a question during a stockholders' meeting in Manila June 24, 2013. REUTERS/Romeo Ranoco
Enrique Razon, businessman and owner of casino operator Bloomberry Resorts, answers a question during a stockholders' meeting in Manila June 24, 2013. REUTERS/Romeo Ranoco

Filipino billionaire Enrique Razon Jr.’s company, Prime Infrastructure Holdings Inc. (Prime Infra), plans to build the world’s largest solar power facility which would be used to provide power to the Manila Electric Company (Meralco), the country’s major electricity provider.

The solar project, which would have a total capacity of between 2,500 to 3,500 megawatts (MW), will also be supplemented by a battery storage of 4,000 to 4,500 megawatt-hours (MWh), in order to boost the supply of renewable energy in the Philippines.

“Prime Infra finds a sweet spot to pursue solar as we take advantage of the steep decline in installation costs over the past decade and improved battery energy storage system technology that allows us to build an economically critical and socially relevant infrastructure at a scale the world has never seen before,” said Prime Infra’s President and Chief Executive Officer Guillaume Lucci.

Terra Solar Philippines, a unit of Prime Infra’s subsidiary Terra Renewables Holdings Inc., will develop the said project with Solar Philippines Power Project Holdings, Inc., led by Leandro Leviste, businessman and son of Senator-elect Loren Legarda.

Terra Solar negotiated a 20-year power supply agreement with Meralco, following the Department of Energy’s mandate of Renewable Portfolio Standards.

As per the company’s projection, it will be able to supply a total of 850 MW for Meralco, which could decrease a total of 1.4 million tons of coal or 930,000 liters of oil in annual consumption in order to generate electricity. This, Terra Solar said, will reduce emissions of greenhouse gas and the country’s dependency on fuel imports from 2026 to 2046.

Since the Intergovernmental Panel on Climate Change’s repeated sounding of alarm over the world’s rapid warming due to burning of fossil fuels and production of carbon dioxide, a shift to a more renewable production of energy is becoming inevitable in order to save the planet.

Marvin Joseph Ang is a news and creative writer who follows developments in politics, democracy, and popular culture. He advocates for a free press and national democracy. The views expressed are his own.

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