J&V Energy acquires stake in 180-MW solar project in PH

The project will start operating in 2027.

Taiwan’s J&V Energy has announced its first venture into the Philippines’ utility-scale renewables market with its acquisition of the entire equity interest in a 180-megawatt ground-mounted solar project located in General Santos.

In a statement, the company said its unit JNV Philippines Renewable Corporation signed the agreement for the transaction. This comes after J&V Energy's joint venture with SolarNRG Philippines in June to develop and construct rooftop projects.

J&V Energy has tapped a local partner to complete development of the project, which is expected to participate in the Philippines’ 2024-25 Green Energy Auction Program to be held in the first quarter of 2025. Under this programme, the project will have the opportunity to sign a 20-year fixed price power purchase agreement with the state-owned National Transmission Corporation.

The facility has completed land consolidation of over 170 hectares, and has obtained a solar energy service contract from the Philippines’ Department of Energy. Under the project's Offer of Service, it is expected to provide 295 gigawatt-hours of green electricity annually once commissioned in 2027.