Tycoon Enrique Razon Jr. plans to build a giant battery energy storage system in the Philippines in addition to the largest solar power facility in the world, with a capacity of 2,500 to 3,500 megawatts.
Helping the Masses
In a statement released recently, Razon’s infrastructure division Prime Infrastructure Holdings Inc. stated that it would increase the nation’s supply of renewable energy, which would also be utilized to power Manila Electric Company.
The Brains Behind It
The project will be carried out in collaboration with Leandro Leviste-led Solar Philippines Power Project Holdings Inc. and Terra Solar Philippines, a division of Terra Renewables Holdings Inc., a subsidiary of Prime Infra that specializes in renewable energy.
According to Prime Infra, Meralco will benefit from this expansion as it will be able to get more renewable energy as required by the Department of Energy’s Renewable Portfolio Standards.
And according to Prime Infra once again, the Terra Solar project is an example of “dependable” renewable energy, which means steady pricing free from the whims of fuel import volatility for the remainder of its 20-year contract.