Mobi, Long Neng Launch 90MW Philippine Solar JV

• New JV powers 90 MW of storage-ready solar in the Philippines—$60M, bifacial trackers, NGCP-compliant, staged to beat grid bottlenecks, blending merchant and PPA offtake for stronger capture.

Mobi Solar Philippines and Long Neng Power formed a JV to deploy 90 MW of solar, backed by $60 million over six years. Phase one commits $20 million to ~30 MW in the first three years, prioritizing shovel‑ready sites; phase two adds $40 million for another 60 MW. Funding lines run through LongNeng Power Hong Kong and MOBI Renewables Hong Kong.

Projects will use bifacial modules on single‑axis trackers, string inverters and NGCP‑compliant controls, with battery‑ready layouts for 2–4‑hour storage. The staged plan targets permitting and interconnection bottlenecks. Offtake blends merchant exposure and PPAs, with hybridization to lift capture prices.

How will Mobi–Long Neng’s $60M JV navigate bottlenecks and optimize offtake in the Philippines?

• Front‑load site control and permits: parallel processing of LGU endorsements, DENR ECCs, water/road rights, NCIP FPIC where applicable; deploy local land teams and standard option‑to‑lease templates to compress timelines.
  
• Work the grid queue early: secure NGCP interconnection feasibility and impact studies as a cluster; target substations with headroom, co‑fund minor bay upgrades, and bake in remedial action schemes to speed approval.
  
• Curtailment mitigation: size inverters conservatively, reserve export caps in PPAs, and stage battery add‑ons to absorb midday peaks and shift to evening demand.
  
• Exploit policy channels: bid into GEAP for indexed capacity contracts, run CSPs with DUs/ECs outside GEAP windows, and line up RES supply deals for RCOA‑eligible C&I loads.
  
• Portfolio siting: split builds across Luzon/Visayas nodes to diversify nodal congestion and weather risk; prioritize brownfields near load pockets to reduce wheeling losses.
• Construction playbook: standardized, tracker‑ready blocks, pre‑procured long‑lead items, and multi‑lot EPC awards to local contractors to bypass labor bottlenecks and import delays.
  
• Merchant/contract blend: anchor 60–80% output with mid‑tenor PPAs (TOU or CfD), leave 20–40% merchant for price spikes; use collars and contracts‑for‑differences with retailers to cap downside.
  
• Corporate offtake: dollar‑pegged or CPI‑indexed corporate PPAs with data centers, industrial parks, and hotels; flexible start dates aligned to interconnection milestones to avoid penalties.
  
• Storage monetization: enroll batteries in reserve and contingency markets as they mature; capture ancillary revenues while firming solar for peak‑hour tariffs.
  
• Grid‑friendly controls: implement advanced plant controls, voltage/VAR support, and fast frequency response to win faster commissioning and curtailment priority.
  
• Regulatory cadence: maintain rolling applications with DOE/ERC to avoid lapses in certificates and compliance; leverage ARTA facilitation to keep agencies on SLA.
  
• FX and rate risk: hedge USD capex vs PHP revenues with swaps; blend local‑currency debt and green loans to lower WACC and PPA prices.
  
• Community license to operate: revenue‑share MOAs, livelihood programs, and clear grievance mechanisms to avoid stoppages; align construction windows with planting/harvest cycles.
  
• Data‑driven dispatch: nodal price forecasting, weather‑to‑market models, and dynamic offtake scheduling to time battery discharge and merchant sales.
  
• O&M uptime: remote monitoring, spare‑parts pools, and performance guarantees tied to irradiance normalization to protect yields and PPA penalties.
  
• Exit optionality: structure stapled PPAs and operating data rooms to enable partial sell‑downs once assets are de‑risked, recycling capital into later phases.