RENOVA, Inc.โa Japan-based renewable energy companyโhas secured an 85 MW solar project in the Visayas region of the Philippines. The project, developed by RENOVAโs local subsidiary, Z Solar Plants, Inc., has been awarded a 20-year fixed-price power supply contract through the country’s fourth Green Energy Auction Program (GEAP).
RENOVA Strengthens Presence in Philippines solar project with Third Solar Project
RENOVA announced today that its local subsidiary, Z Solar Plants, Inc., was awarded an 85 MW (170 MWp) solar project in the Philippines. This award, secured through the highly competitive Green Energy Auction Program (GEAP), marks RENOVA’s third solar project in the country and a significant step in its regional expansion.
The 85 MW is part of a total 250 MW awarded to Z Solar Plants, Inc. during the selection process. This project is a key milestone in RENOVAโs broader corporate strategy to achieve 5 GW of installed capacity by 2030, with 1.8 GW planned for overseas projects. The new facility is set to become RENOVA’s fourth renewable energy initiative in the Philippines, joining the ranks of the Clark Solar Project, Zambales Solar Project, and the Ilocos Norte Wind Project.
RENOVA to Begin Construction of Philippines solar project in 2026
Construction of the solar project is set to begin in 2026, with RENOVA planning to start operations in 2028. This project will adopt the same solar power plant model as the Zambales Solar Project, leveraging synergies between the two initiatives due to their close proximity. The entire solar panel manufacturing process from planning to operation will benefit from these established practices.
Ready to make big Profits?
The solar Industry is Booming
WE HELP NEWCOMERS to the solar industry start their own solar module production line. Customers can make BIG PROFITS by selling modules and finding investors, without wasting money and time on things they don't need!
Understanding the basics of solar panel manufacturing is crucial for a project of this scale, as is managing the complex logistics of sourcing specialized solar panel manufacturing machines and components. A detailed solar panel manufacturing plant cost breakdown helps ensure the project remains financially viable over its 20-year power supply agreement (PSA) with a power distribution company, which ensures stable long-term electricity sales.
The Philippine government has set an ambitious target to increase the renewable energy share in the power mix to 50% by 2040, reflecting the country’s strong commitment to renewable energy development. This initiative, which can be tracked in broader industry analyses like the Global Solar Report, aligns with RENOVA’s strategy to expand its renewable energy portfolio in the region.
In addition to the solar project, RENOVA is advancing its Philippines portfolio with the ongoing development of the Ilocos Norte Wind Project, a 12 MW wind initiative that is scheduled for completion in late 2025. This project will contribute to the diversification of the company’s renewable energy assets in the country.
RENOVA Expands Renewable Energy Projects Across Asia, Including Philippines solar project
RENOVA is actively developing a diverse range of renewable energy projects across Asia, including solar, wind, and biomass initiatives. In Japan, the company is advancing the Kikugawa Biomass Project, a 75 MW biomass power plant expected to begin construction in 2024. The plant is set to start operations in 2029 and will utilize a mix of domestic wood biomass and imported wood pellets. Securing a steady supply of fuel is as critical for biomass as sourcing the right solar panel raw materials is for photovoltaic projects.
In Vietnam, RENOVA is working on the Ben Tre Wind Project, a 100 MW wind initiative in the Mekong Delta region. This project is part of Vietnam’s Power Development Master Plan VIII, which aims to develop 21 GW of onshore wind power by 2030. RENOVA plans to finalize the power purchase agreement (PPA) with Vietnam Electricity (EVN) in 2025 and begin construction in 2026, with operations slated for 2029.
Additionally, RENOVA is preparing to finalize the Ninh Thuan Solar Project, a 50 MW solar project in Vietnam. The company plans to sign the PPA with EVN in 2025, begin construction in 2026, and achieve commercial operations by 2029.
With these projects, RENOVA is strategically positioning itself to capitalize on the growing demand for renewable energy in Asia, contributing to the region’s energy transition and sustainability goals. To learn more about the intricacies of bringing solar power to life, from the factory floor to the energy grid, explore our free e-course.
