Blueleaf, SunAsia secure 610 MW of Philippine floating solar projects

• The Philippine government has actually awarded 6 contracts to Blueleaf Energy and neighborhood developer SunAsia Energy Inc for the building and also procedure of floating solar parks on the water surface of Laguna Lake with an integrated capacity of 610.5 MW.

According to a news release from the developers, this is the first collection of Solar power Operating Contracts (SEOCs) to be released by the Department of Energy (DOE), which targets 1.3 GW of floating solar projects. Each of the six contracts has a term of 25 years.

The planned developments issue the cities of Calamba, Santa Rosa and also Cabuyao, in addition to the communities of Bay as well as Victoria.

"Individuals are worrying about completing uses land, and also in some markets, you may have a hard time to locate land," said Tetchi Capellan, president and also CEO of SunAsia Energy. "There is a strong reward to improve water as the Philippines gears up for an enthusiastic 46 GW solar energy setups in 2040 and at the same time, increase power supply in the country," she added.

Blueleaf Energy, a portfolio firm of Macquarie's Green Investment Group (GIG), currently has 250 MW of solar capacity in the Philippines and has greater than 7 GW of solar, wind, and also storage projects in the pipe across the Asia-Pacific region. Last year, it authorized a letter of intent (LoI) where it promised to dramatically raise its sustainable infrastructure investments in the Philippines.

Now, Blueleaf CEO Raghuram Natarajan kept in mind that the current announcement of the elimination of foreign possession constraints in the nation will aid draw in much-needed international straight investments in the residential renewable resource sector.