UK-based Actis has partnered with Manila Electric Company (Meralco) and Solar Philippines New Energy Corporation (SPNEC) to invest in the Terra Solar Project, a major solar-plus-storage initiative in the Philippines.
The project will have a capacity of 3.5 GWp of solar power and 4.5 GWh of battery energy storage, which is the largest integrated renewable energy and storage project in the world. The project is located on Luzon Island and aims to power 2.4 million households, with Meralco already securing 850 MW of the output under a 20-year contract. The project is expected to be completed by 2026.
