J&V Philippines Renewable Corporation has signed an agreement to acquire full ownership of a 180MW ground-mounted solar project in General Santos, Philippines.
J&V Energy Makes First Utility-Scale Investment in Philippines
This acquisition marks J&V Energy’s first utility-scale renewable investment in the Philippines, following a joint venture with SolarNRG Philippines in June to develop and construct rooftop solar projects for commercial and industrial clients.
J&V Energy has partnered with a local firm to finalize the project’s development, aiming to participate in the Philippine Government’s 2024–25 Green Energy Auction Program (GEAP), scheduled for the first quarter of 2025. Through GEAP, the project could secure a 20-year, fixed-price power purchase agreement with the state-owned National Transmission Corporation.
Philippines Solar Project to Supply 295 GWh Annually by 2027
The project has already consolidated over 170 hectares of land and secured a Solar Energy Service Contract (SEOC) from the Philippine Department of Energy (DOE). With an Offer of Service from the National Grid Corporation of the Philippines also in hand, the project is expected to deliver 295 GWh of green electricity annually once commissioned in 2027.
“We are delighted to partner with reputable local developers to make our first utility-scale renewables investment in the Philippines. This transaction demonstrates our commitment to the Philippines and brings J&V Energy closer to our target of commissioning 500MW by 2028. We would like to thank the Philippine Board of Investments (BOI) and Philippine Trade and Investment Center (PTIC) Taipei for facilitating our expansion in the country,” said Jerome Tan, Group CIO of J&V Energy and President of JNV Philippines.
The latest Philippine Energy Plan (PEP) projects that the country will achieve over 35% renewable energy in its total energy mix by 2030. Significant contributions from solar (+17.8 GW) and wind (+7.8 GW) are expected to shape its energy future.
About J&V Energy: A Leading Renewable Developer in Asia
J&V Energy is a publicly listed leader in the circular economy and renewable energy development, with a market capitalization of approximately US$1 billion as of September 30, 2024. The company employs over 350 experts in solar, wind, energy storage, and water infrastructure, operating across Taiwan, Japan, the Philippines, and Vietnam.
In 2023, CommonWealth Magazine ranked J&V Energy #1 on its list of the Top 100 Fastest Growing Companies. The company is also a constituent of the MSCI Global Small Cap Index.
