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A green lane certificate gets approved to the 3.5GW solar PV and 4.5GWh BESS Terra Solar project in the Philippines, enabling faster construction.
The Board of Investments' (BOI) green lane permission will soon allow the Philippines to host the largest solar and battery storage project globally. With this recognition, the Terra Solar project may move forward more quickly and transform the nation's renewable energy industry.
A 4,500 megawatt-hour (MWh) battery energy storage system will be combined with 3,500 megawatt-watt (MW) solar photovoltaic (PV) capacity at Terra Solar, an investment by Terra Solar Philippines, Inc. (TSPI), which is co-owned by SP New Energy Corporation and Manila Electric Company (Meralco). The project, which covers 3,500 hectares in Bulacan and Nueva Ecija, is estimated to have cost PHP185 billion (US$3.2 billion).
The BOI’s green lane certificate is designed to expedite the permitting process for strategic investments that align with national development goals. This acceleration is crucial for meeting the project’s timeline, with the first phase expected to achieve commercial operations by February 2026 and the second phase the following year.
Additionally, the project has received a Certificate of Energy Project of National Significance from the Department of Energy, a standard certification for projects exceeding US$59 million in investment.
Originally proposed by Prime Infrastructure Holdings, the project, now under Terra Solar, will supply power to Meralco under a power purchase agreement. The development aligns with recent discussions on the Philippines' growing energy storage market, highlighted at the Energy Storage Summit Asia 2024.
The green lane certificate for Terra Solar aligns with other recent renewable energy approvals in the Philippines, including solar rooftop projects, the Pakil Pumped Storage Hydroelectric Power Project, and the Guimaras Strait Offshore Wind Power Projects.
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