SunAsia Energy eyes P12-B floating solar plants on Laguna Lake

MANILA, Philippines — Renewable energy producer SunAsia Energy Inc. seeks to increase its footprint in Luzon with a proposal to develop two floating solar plants worth P12.04 billion on Laguna Lake. Through its subsidiaries, NewAsia Power Energy II Corp.(NPE2C) and Nortesol II Inc. (N2I), SunAsia hopes to build the solar assets with a capacity of 131.79 megawatt-peak (MWp) each. This was according to separate filings before the Department of Environment and Natural Resources. NPE2C is tasked to develop the Sta. Rosa Floating PV Power Plant, while N2I will develop the Cabuyao 1 Floating PV Power Plant. The solar facilities cover two of the 10 blocks assigned by the Laguna Lake Development Authority for renewable energy projects. Based on the documents, each project will cover an area of 117.5 hectares, utilize 202,800 panels and deploy a total of 396,000 inverters. “The initiative seeks to reduce dependence on fossil fuels, mitigate the impacts of climate change and contribute to Luzon’s energy supply,” the firms said. SunAsia is targeting to make them operational by early 2028. The group is a homegrown renewable energy producer with projects focused on floating solar and solar on water. Since its launch in 2013, SunAsia’s portfolio includes a 60-megawatt (MW) facility in Toledo, Cebu, a 20-MW project in Pangasinan and a floating solar photovoltaic test bed on Laguna Lake. In June, SunAsia teamed up with Vietnam’s VinEnergo to roll out solar projects on water bodies in the Philippines. With a capital of about $406 million, both parties said they would fire up a 422-MWp portfolio across Pampanga and Negros Occidental. A technology dubbed “solar on stilts” will be used, with solar panels elevated on a concrete structure, allowing aquaculture and the cultivation of aquatic species. They are eyed for commercial operations between 2027 and 2028. The Philippine government has a goal of expanding the share of renewable energy to the electricity generation mix from the current 25 percent to 35 percent by 2030. INQ