Danessa Rivera (The Philippine Star) - June 4, 2021 - 12:00am
https://www.philstar.com/business/2021/06/04/2102897/macquarie-sunasia-develop-solar-plants
MANILA, Philippines — A portfolio company of Macquarie’s Green Investment Group has teamed up with local solar developer SunAsia Energy Inc. to develop 1.25 gigawatts (GW) of solar projects in Luzon.
The partnership brings together the financial and deep in-house technical capabilities of Blueleaf Energy, Macquarie’s Green Investment Group, and the local development experience of SunAsia.
In the past 20 years, Blueleaf Energy has developed, built and operated almost two GW of solar capacity across the globe, including over 500 megawatts (MW) in the Asia Pacific region and 250 MW in the Philippines.
“We are pleased to partner with SunAsia to drive forward Philippines’ green energy transition. This marks another milestone as we partner with reliable, strategic local developers to expand the solar industry across Asia,” Blueleaf Energy interim CEO Sol Proops said.
Meanwhile, SunAsia was established in 2013 and has worked with partners in delivering solar projects, building a total of 112 MW, based on its website.
It also specializes in innovative solutions as it holds an exclusive license to operate the biggest floating solar pilot project in the town of Bay in Laguna Lake.
“With BlueLeaf Energy as our partner, we are in a stronger position today in helping the industry attain the renewable energy targets set by the implementation of the country’s Renewable Portfolio Standards,” SunAsia CEO Tetchi Capellan said.
A mechanism under the RE Act of 2008, the Renewable Portfolio Standards or RPS requires distribution utilities, electric cooperatives, and retail electricity suppliers to source a percentage of electricity requirements from RE sources. The RPS level is currently set at one percent until 2022.
“This cooperation raises the bar of project development work in the country as the partnership offers the renewable energy market innovative solar solutions that are both viable and appropriate to local conditions,” Capellan said.
Blueleaf Energy said such collaboration is poised to significantly contribute to the achievement of Philippine RE goals.
The partnership also coincides with the forecast growth of the Philippine solar energy market, it said.
RE development is also a key part in the Philippines’ transition to a low carbon future.
Under the National Renewable Energy Program (NREP) 2020-2040, around 34,000 MW of RE installations are set to be developed in two decades.
The country targets the delivery of an additional 10 GW of solar energy by 2030, which comprises more than 20 percent of its energy mix.
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