Solar Philippines Nueva Ecija Corporation (SPNEC) has commenced construction on a 500 MW solar facility in Nueva Ecija, Philippines.
The solar project is funded from proceeds from a PHP2.7 billion initial public offering (IPO) and is projected to be one of the biggest solar projects in the Southeast Asian (SEA) region. By the end of 2022, the first 50 MW will be supplying power to the national grid. In 2023, SPNEC will add solar panels to generate 175MW, followed by solar panel installation to generate the remaining 500MW. As of December 2020, the Philippines had a total operating grid-connected solar capacity of 1,021 MW. By 2030, the Government of Philippines is targeting a total solar capacity of 20,000 MW.