DOE awards contracts to develop 610 MW of floating solar projects on Laguna Lake

The Phillipines’ Department of Energy (DOE) has awarded six solar energy operating contracts (SEOCs) to develop 610.5 MW of large-scale floating solar facilities on the Laguna Lake in the Philippines.

The contracts were secured by SunAsia Energy Incorporated and Blueleaf Energy. Each contact will be valid for a 25-year period. The projects are a part of the first phase of 1.3 GW of floating solar projects that the two companies plan to develop. Around USD1.7 billion of investment will be required over the next two years. SunAsia and Blueleaf are also seeking four additional SEOCs. Till date, the DOE has awarded a total of 237 solar energy contracts, with a combined capacity of 1,282 MW, generating around PHP8.46 billion in investments.