, Philippines

New 72MW solar farm in the Philippines starts operation

The project was developed by ACEN and Citicore. 

The 72-megawatt (MW) Arayat-Mexico Solar Farm, developed by Philippine firms ACEN and Citicore, has started its full operation. 

The solar farm is expected to generate 105 gigawatt-hours (GWh) of renewable energy, which is equivalent to powering 45,000 homes in the country. 

“As we work towards our bold vision to reach 20 GW of capacity by 2030, we aim to accelerate the energy transition across the region,” Jose Maria Zabaleta, chief development officer of ACEN, said. 

Read more: ACEN unit bags AU$100m loan for RE project

The ACEN noted that the new solar farm is a “critical” addition to the grid. It helps avoid an annual carbon dioxide emission of around 72,000 metric tonnes. 

Aside from its contribution to the clean energy transition, the project has also led to over 1,500 new jobs. 

After this, the ACEN and Citicore joint venture will now develop the second phase of the project which will add 44MW. It is set to be commissioned by the second quarter of 2023. 

This brings the project’s full capacity to 116MW. It is funded through a debt replacement and will be refinanced with at least 40% equity and up to 60% bank debt. 

 

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