Prime Infrastructure Capital Inc. has launched the tender process for the Engineering, Procurement and Construction (EPC) contractor for the Php200 billion Terra Solar Solar Farm Project.
In a Manila Bulletin report, Market Sector Manager for Power of Prime Infra Janssen dela Cruz said they are currently in the process of identifying EPC contractors for the project. He added that the date of commercial operations is expected between 2026 and 2027.
The project is a large-scale solar farm with a capacity of up to 3,500 megawatts (MW) with 4,000 to 4,500 megawatt-hours (MWh) of battery storage.
During commercial operations, the project will be providing 850MW of mid-merit capacity to the Manila Electric Co. (MERALCO).
Funding for the project will come from the initial public offering (IPO) scheduled for next year, in addition to the equity that will be injected by Prime Infra.
Dela Cruz said he has identified enough land to meet the needs of the project, which includes additional space to ensure the panels are eventually distributed for maintenance.
The head of Prime Infra indicated main sites in Nueva Ecija, Zambales, Bulacan, Tarlac and Cavite, and that they are optimizing the land areas in order to fully utilize the land reserve for 3000 MW.
Under the 20-year PSA with MERALCO, Terra Solar will be required to deliver the initial 600 MW by February 26, 2026 and the remaining 250 MW by February 2027 at a levelized cost of electricity (LCOE) of 5. 80 Php per kilowatt (kWh).