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16/09/2022

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16/09/2022

16/09/2022

LARGEST FLOATING SOLAR FARM IN ASIA TO BE BUILT IN LAGUNA BAY🇵🇭🇸🇬

Macquarie Capital, through Singapore-based Blue Leaf Energy Asia Pte Ltd., is investing at least $1.2 billion or about P68.3 billion in a 1,300-megawatt floating solar plant on Laguna Lake.

The solar facility will be jointly developed by Blue Leaf Energy and renewable energy firm SunAsia Energy Inc. and is scheduled to commence operations by 2024.

Macquarie, in a statement, said the first P2 billion pf the funding would be made immediately available to the Laguna Lake Development Authority (LLDA) as soon as the construction of the project begins.

In June last year, Blue Leaf Energy and SunAsia Energy signed a memorandum of agreement to jointly develop the solar facility.

Under the agreement, the floating solar plant will be installed on the water surface of Laguna Lake spanning the cities of Calamba, Sta. Rosa and Cabuyao, and the towns of Bay and Victoria.

"This structure in Laguna Lake will be the biggest in Asia and is poised to become an engineering wonder in the world expected to attract a significant number of scientists and academics as well as local tourists," said Macquarie.

With the injection of 1,300 MW iof solar power into the system, rotating blackouts are expected to be mitigated, especially in the export processing zones in Laguna.

In the last two decades, Blue Leaf Energy developed, built and operated almost 2 gigawatts of solar capacity across the globe, including 250 MW in the Philippines and more than 500 MW in the Asia Pacific region.

Photo for reference only.

Read More: https://www.google.com/amp/s/business.inquirer.net/362023/macquarie-capital-to-invest-1-2b-in-floating-solar-plant-on-laguna-lake/amp

06/07/2021

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