Renova Inc. of Japan has secured its first solar power project in the Philippines at a fixed-price 85 MW facility being developed in the Visayas Region under the country’s fourth Green Energy Auction Program.
The project is being jointly developed with Victorias Green Energy Corporation, a local renewable energy partner. The 20-year power contract marks a key milestone in Renova’s plan to achieve 5 GW of installed capacity by 2030, including 1.8 GW from overseas projects.