SP New Energy Corporation (SPNEC) is planning to complete works on the PHP200 billion Terra solar projects in Nueva Ecija and Bulacan in the Philippines by 2027.
The project will consist of 3,500 MW of solar panels and 4,000 MWh of battery storage, making it the largest solar project in the world. The works will be executed in two phases. The 2,500 MW Phase 1 is expected to be completed by 2026, meanwhile, the 1,000 MW Phase 2 is expected to be completed by 2027. The project is expected to generate over five billion kWh annually. The project will be funded from a combination of capital infusion, including a PHP15.9 billion investment from MGen Renewable Energy Incorporation (MGreen).