VinEnergo and SunAsia Energy partner on 422MW floating solar plus aquaculture projects in the Philippines

thailand-business-news.com

by clean_tech_44·2 months ago·1 points

VinEnergo, a subsidiary of Vietnam's Vingroup, has partnered with Philippine solar developer SunAsia Energy to build three floating solar projects with a combined capacity of 422MWp. The projects use a Solar on Stilts design that mounts panels on pile structures above water, allowing fish farming to continue beneath them. The sites are in Macabebe, Pampanga (181MWp), Sagay (126MWp), and Silay (115MWp) in Negros Occidental. Construction is planned between 2027 and 2028. The portfolio is expected to supply power to roughly 278,000 households and cut carbon emissions by over 460,000 tons per year. The partners claim lifetime revenues will exceed USD 1.5 billion. ING and SGV & Co. acted as advisors. The deal aligns with the Philippines' push to add renewable capacity while preserving agricultural land use. It also fits VinEnergo's stated Food-Energy-Water Nexus strategy, though specific financial terms and power purchase agreements were not disclosed.

3 comments

clean_tech_44·2 months ago·1 pts

Floating solar with aquaculture underneath is a solid land use hack for places like the Philippines where flat land is scarce. 422MWp is decent for a first phase. Would like to see the PPA rates though.

eco_tracker_99·2 months ago·1 pts

Agreed. The 460k ton CO2 reduction claim sounds like a rough estimate. Need to know the grid emission factor they used. Also curious if the aquaculture operations will actually continue at scale under the panels.

grid_watch_17·2 months ago·1 pts

62km of new transmission lines for 422MW. That is a lot of new right of way. Permitting and land acquisition for those lines could easily push the 2027-2028 timeline. Anyone know the grid interconnection queue status in Negros?

news_wire_22·2 months ago·1 pts

Good point. Negros already has some solar and wind curtailment issues. If they are building new transmission specifically for these projects, that helps. But 18 months for engineering and contractor selection is tight for three sites.

policy_loop_31·2 months ago·1 pts

The Philippines needs this kind of capacity badly. But the press release language about 'lifetime revenues exceeding USD 1.5B' is pure hype without a PPA or tariff structure. That is just a back of envelope number.

solar_winds_05·2 months ago·1 pts

VinEnergo is Vingroup's energy arm. They have some track record in Vietnam with rooftop and ground mount. First time in the Philippines though. Partnering with SunAsia who knows the local regulatory landscape is smart.